Industrialists meet Minister of State for Social Justice & Empowerment; Demand increase in MSME investment limit
Author(s): City Air NewsLudhiana: In a meeting held at Vardhman Textiles Limited, Chandigarh Road, Ludhiana, Industrialists met Sh.Thawar Chand Gehlot, Union Minister of State for Social Justice and Empowerment in India, and discussed...
cityairnews
Jun 16, 2017 12:30
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Ludhiana: In a meeting held at Vardhman Textiles Limited, Chandigarh Road, Ludhiana, Industrialists met Sh.Thawar Chand Gehlot, Union Minister of State for Social Justice and Empowerment in India, and discussed the problems faced by the Industry. Sh.Vijay Sampla, Union Minister for Social Justice and Empowerment in India were also present in the meeting.
S.Gurmeet Singh Kular, President, FICO, highlighted major problems faced by industry in front of Shri Gehlot, and demanded to resolve the issues at the earliest possible time. The issues and demands raised were as under:
• MSME Investment Limit: - The present limit for Micro Units is 25 Lakh, Small units upto 5 Crore, Medium Units upto 10 Crores, which is needed to be upgraded the limit for Micro units should be increased to 1 Crore from 25 Lakh, Small Units Limit should be increased to 10 Crore from 5 Crores & Medium should be increased to 20 Crores from present 10 Crore.
• CLCSS (Credit Link Capital Subsidy Scheme): - Under the CLCSS Scheme, the small units upto 5 Crores are supposed to be benefited. But in reality the small units under 1 Crore are being benefited under this scheme. So this issue is needed to be checked upon.
• TUF Scheme: - Technology Upgradation Fund is needed to be provided to all the segments of industry, so that the industry should update themselves with modern techniques and can be able to compete in global market.
• GST Implementation: - Goods & Service Tax which is going to be implemented from 01.07.2017, but the ground reality of GST is not very clear. There are some interchangeable parts (both in Bicycle Parts & Auto Parts) on which GST slab is not clear. There are many more points which needs clarity. Government should first bring clarity to all the concerns before implementing GST.
Sh.Shripal Oswal, Sh.Sanjeev Pahwa, Sh.D.L.Sharma, Sh.Ajit Lakra, Sh.Rajat Sood, Sh.Vijay Mehtani, Sh.Ravinder Arora, Sh.S.S.Bhogal were among those present on the occasion.
