Hyderabad: The Union MSME minister Kalraj Mishra said on Tuesday that his ministry will bring out a new policy for the micro, small and medium enterprises sector within four months. “A committee will be set up with officials from the ministry of MSME, finance ministry and the RBI to chalk out a new policy for the small scale sector by studing the policies of different states within India and abroad,” the minister told reporters here.
He was speaking on the sidelines of a workshop on small and medium entrepreneurs in Hyderabad. Responding to the complaints of SMEs about difficulty in securing bank lending, he said that a credit guarantee fund has been set up for MSMEs which will provide upto Rs 1 crore of collateral free loan.
“We will sit with bank representatives and try to eliminate the bottlenecks plaguing government schemes,” Mr Mishra said. He, however, felt that the state should try to monitor the implementation of government schemes as the industry is a state subject. He also announced to soon launch an online clearance system which will ease the registration of MSMEs.
