The Hindu Business Line : SME board to have 30 members

THE proposed national small and medium enterprises board is to have 30 members including those chosen from among the various State Governments and Union Territories.

"The States and Union Territories will get representation on the board by rotation," the Minister for Small and Medium Enterprises, Mr Mahabir Prasad, told Business Line.

The board is to be a high-level forum consisting of stakeholders for participative review and making recommendations on the policies and programme for the development of small and medium enterprises.

The Minister also expressed confidence that the Small and Medium Enterprises Development Bill, which was introduced in Parliament in May this year and referred to a Standing Committee, will be passed during the forthcoming monsoon session of Parliament.

The Bill seeks to free the sector from inspector raj and provide for a statutory definition of the small and medium enterprises. It also seeks to raise the investment limit in the small-scale sector to Rs 5 crore.

The Bill also seeks to provide for classification of SME on the basis of investment in plant and machinery or equipment.

Questioned on the proposed comprehensive package for the sector, Mr Prasad indicated that a Group of Ministers is likely to be set up to look into the matter.

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