JOIN USMicro, small and medium enterprises (MSME) want the finance minister to have a separate pre-budget meeting to assess their needs and not club them with the industry which is dominated by large corporations.
“Earlier, the finance ministry used to hold a separate session with the small-scale industry sector. But this practice has been discontinued since 2004 and the ministry now holds one single pre-budget session for industry where the majority of the people invited are representatives of large corporate groups,” said the Federation of Indian Micro & Small & Medium Enterprises (Fisme) on Saturday.
“The MSME’s sector whose interests are often vastly different from those of big industry contribute nearly half of India’s manufacturing output and exports and employs the most people after agriculture,” said Fisme President V K Agarwal.