Government Keeping SME Sector High on Priority

ME segment is cheered up and not without any reason, the sector is now in the growth radar. The government is in its final stages to hike the sub-limit within priority sector lending for the micro sector, from 4.9 per cent to 6 per cent.
Beside this there are various other steps which the government is planning to take in order to thrust the upswing of the SME sector.

1)The government is planning to launch a toll-free helpline as a part of its resolve to assist SMEs in day-to-day operations, finance, marketing, legal, banking and taxation domains. Mr. Dinesh Rai, Secretary,Ministry of Micro, Small and Medium Enterprises (MSMEs), Government of India, underlined a plan to run a National Skill and Development Centre (NSDC) to create a robust entrepreneurial ecosystem in India.
2) All banks including the private ones are urged to help the MSMEs in leverage plans and assist them at every corner.
3)The relaxation in lending limits will help an additional funding of Rs 17,000 crore for the MSME sector, according to estimates by the Federation of Indian Small and Medium Enterprises (FISME). On the other hand, the credit monitoring cell would step in to resolve pending cases which have not been resolved by the bank within 14 days.
4)Government has appreciated the MSMEs step of registering themselves on B2B online marketplaces and is augmenting the decision of doing business and promotions through the use of Information, communication and technology (ICT) tools which are available online.
5)The Securities and Exchange Board of India (SEBI) is considering issuing rules to set up stock exchanges dedicated to small and medium enterprises (SMEs).
6)Special aid plans have been developed for the SMEs related to agriculture sector directly.
7)Government is also planning to launch a special disaster management scheme devoted solely for the SMEs.
8)Planning for single-window clearance mechanisms, rationalize tax regimes and adoption of a proactive strategy aimed at education and evangelism for SMEs.

With all these plans in the making, it seems the government is really adhere to its plan of being a foothold in the development of SMEs in India. If all this steps are implemented without much extrinsic interferences and are applied earnestly, the growth of SMEs is inexorable.