PRESS RELEASE BIG DISAPPOINTMENT TO MSME SECTOR At a time when the Small and Micro Industries, which are the veritable back bone of our national economy, expected some relief from the Central Budget from a Government which was just voted to power with an impressive mandate, the Finance Minister has turned a Nelson's eye. This is a big disappointment to the whole Small Scale and Micro Sector. We are at a crucial pace in our onward march, when big industries are making a tight-rope dance and retrenching their workers under severe economic meltdown. But even in such a critical situation it is heartening that the Small Scale and micro sector are cleverly cajoling their labour to move forward with all their handicaps. There is nothing tangible in the present budget for protecting the Small Scale and micro industries which are abundantly providing employment opportunities for our teeming millions next to Agricultural sector. No doubt the Budget gives a degree of rural orientation like equated interest for the agricultural sector. MSME another major one like agricultural sector warranted similar concession of equated interest, which was not taken in to consideration, raising of excise limit from its present 1.5 crore to 3 crore, and instant reforms on Labour Welfare, most importantly our Plastic Industry's repeated prayer for removing the customs duty from its 5% on import of Plastic raw material and the additional import duty at 4%, has not been given its due. We earnestly hope and trust that the Honourable Finance Minister would consider the request of small and micro industries, whose contribution to our national economy is not inconsiderable with 33% export, 40% in production and 8% share on GDP even as from its existing role under unorganized sector, for what it is worth at least, while replying to the debate on the Budget Proposals.
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