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Our Bureau

New Delhi , June 26

SMALL and medium enterprises (SMEs) favour single comprehensive legislation to streamline their day-to-day operations, according to a CII snap poll that covered CII members across the country.

The heart of the Small and Medium Enterprises Development Bill (SMED) regarding `Inspection of SMEs and related matters' has received a positive response, with 70 per cent of the respondents expressing satisfaction over its provisions.

The remaining 30 per cent of the respondents have expressed reservations regarding Section 15 of the SMED Bill, which says: "Provided that while prescribing the manner of inspection under this Section, the Central Government shall have regard to the promotion of self-regulation or self-certification by the SMEs."

Over 87 per cent of the respondents expressed satisfaction over the provisions for `Establishment and functions of the National Small and Medium Enterprises Board'.

With the setting up of the board, the need for having an umbrella body to take periodic stock of the development of this sector has been fulfilled, said the respondents.

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