Deviating from his written speech, Bakht spoke on various issues pertaining to the small industry like technological upgradation, promoting exports, finance and global competitiveness. "The foremost challenge which liberalisation is going to pose before the small-scale sector is technical upgradation," he said. Increase in the investment limit for SSIs from Rs 60 lakh "would enable SSIs to acquire improved technology and provide impetus to quality and productivity," he said. A "model scheme" called Uptech has been formulated.

Bakht said RBI has already accepted 35 of the 126 recommendations of the S L Kapur committee which was set up in December 1997 to review the working of the credit delivery system for SSIs. The minister admitted that the promotionalmechanism of Purchase and Price Preference in the government could help SSIs "to a limited extent". He said the government would be very strict in checking the menace of delayed payments from big to small companies.

On the procedural rigours being faced by SSIs, Bakht said, "The expert committee constituted by the government has proposed uniform promotional framework in the country to service the overall interests of the small-scale enterprises by framing a separate law for SSIs. The Commission on Administrative Reforms has also endorsed the Abid Hussain Committee recommendations in this regard."

However, Bakht did not say much about the eradication of inspector raj. Speaking to FE Enterprise, he said, "A number of steps have been taken to do away with inspector raj. But it must be understood by all that it can't be eradicated in a day."