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New Delhi June 5 Increasing number of inspectors and rising interest rates have crippled the productivity of small and medium enterprises (SMEs) in the country, according to a survey conducted by Tradeindia.com and industry chamber Assocham. The chamber has sought the Prime Minister's intervention to bring down the number of inspectors to 15 within the next two years and subsequently less than five in another two years' time to spare SMEs from harassment.

The chamber has suggested a single inspector to examine excise, bonus and sales tax records and, likewise, a single inspector in charge of five different functions of SMEs. The survey received responses and comments from 934 SMEs. About 85 per cent of the respondents said banks have not been forthcoming in lending to SMEs at the desired interest rates of around 10 per cent but lend at 15 per cent.

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