In the last couple of
years the discussion in respect of MSME Sector has been very pronounce in view of the economic difficulties
being faced particularly by the units in this sector. The Sector plays a very
important role in the Indian economy as it contributes significantly to the
GDP, being labour intensive creates large employment opportunities and of
course promotes entrepreneurship. The sector has been in turmoil for quite some
time now in wake of globalisation and has also been facing stiff competition
from organised sector. The relative advantages in indirect taxes after
introduction of GST and reduction in custom duties have also watered down over
a period of time.
The pandemic of COVID 19 has brought this sector in focus once again due to the important role it plays in self-sufficiency, employment generation and overall contribution of this sector in economic development.
We are glad to share with you some of the important benefits that are available to this sector. In this trying times it is necessary that all those who are engaged in this type of enterprises understand and take advantage of the various support measures that Central and State Governments provide for upliftment of this sector.
To view the full note on MSME and important benefits click here
We hope you shall find this helpful.