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Maditssia wants Bill withdrawn
Our Correspondent
Madurai, Aug.16
The Madurai District Tiny And Small Scale Industries Association (Maditssia), expressing disappointment over the Bill passed on the small and medium enterprises (SMEs), has called for its withdrawal immediately.
Stating that no concrete relief or benefits have been extended to the small industry, the 32nd Annual General Meeting of the Association held here on Monday observed that "it is a pity that the Government of India has completely excluded the tiny sector from the SME Bill and not even a word has been mentioned about the fate of the tiny sector".
The Association has appealed to the Left parties to withdraw the bill and come with an exclusive bill for small and tiny industries. It has further said that the new SME bill and relaxation in the investment limit is only a backdoor entry to the reserved items.
Pointing out that the credit guarantee fund scheme has been a total failure with no bank interested in lending under the scheme, the Association has appealed to the Ministry of Small Industry and the Ministry of Finance to come out with newt credit guarantee schemes.
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