According to Rahul, what are the imperatives for shielding MSMEs
Rahul emphasizes the importance of creating industrial hubs and implementing a single GST rate for safeguarding MSMEs.
According to Rahul, there are several imperatives for shielding Micro, Small, and Medium Enterprises (MSMEs). These include:
- Creating industrial hubs: Rahul emphasizes the need to establish industrial hubs across the country. These hubs would provide a conducive environment for MSMEs to operate, ensuring easy access to infrastructure, financing, and technology.
- Implementing a single GST rate: To safeguard MSMEs, Rahul argues for the implementation of a single Goods and Services Tax (GST) rate. This would simplify compliance requirements and reduce the burden on smaller businesses, allowing them to compete more effectively in the market.
- Promoting skill development: Rahul stresses the importance of focusing on skill development and vocational training for MSMEs. This would enhance the capabilities of the workforce and enable these enterprises to benefit from technological advancements.
- Facilitating access to credit: To shield MSMEs, Rahul suggests the need for policies that make it easier for them to access credit. This could be achieved through streamlined procedures, lower interest rates, and increased collaboration between financial institutions and MSMEs.
Answered
a year ago