in order to stimulate investments in innovations and R&D beyond the current tax deduction.
"The tax reduction demands of SMEs are to the tune of 150 per cent on R&D spend, as the current percentage is not enough to stimulate investments in this arena."
"The Government has initiated multiple reforms such as the cluster development programme, technology upgradation fund, credit link capital scheme, amongst others, which have rendered success.
"However, the huge unorganised sector of Micro Small Medium Enterprises (MSME) seeks scaling up of intervention from the Government.
"There's a pressing need for the state governments, local governments to join hand with the Central government and work towards increasing the presence of MSME's in the eco system", Ministry of Micro, Small and Medium Enterprises, Secretary Madhav Lal said.