WHAT I TOLD THE FM BUDGET 2002-03

Hike investment limit for small, medium sectors

Posted: Saturday, Jan 19, 2002 at 0000 hrs IST
Updated: Saturday, Jan 19, 2002 at 0000 hrs IST

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: incentives like income tax benefits, special lending rights, etc.

Further a line of credit to select associations can be established for bridging the occasional gap in working capital. The real interest rate is still on the higher side compared with several other countries and needs to be brought down.

To increase the investment limit for non-reserved items, the small sector should be dereserved.

Also, attention should be paid to define medium enterprises and put in place an insolvency mechanism for the non-corporate sector, such as partnership and proprietary companies.

Finally, reforms in the areas of labour and power should be speeded up.

(V K Agarwal is Senior Vice-President, Federation of Indian Micro, Small and Medium Enterprises (FISME)...

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