MSME Minister Met Finance Minister and Explained Contemporary MSME Issues

Union Minister for MSMEs Shri Narayan Rane met the Union Finance Minister Smt Nirmala Sitharaman in her Parliament House office and held detailed discussion regarding enhancement of budget and continuation of flagship schemes of the Ministry of MSME.

Shri Rane also raised the issue of credit requirements of COVID-hit MSME units. He highlighted the need for credible policy for attracting the foreign investment exiting China to enhance the manufacturing capacity of the MSMEs. The MSME Minister also shared with Smt Sitharaman the feedback of the MSME entrepreneurs regarding the apathy and indifference of the Banks towards providing credit to MSMEs.

The Finance Minister assured her support to enhance the budget of MSME for the growth of the sector. She informed that Banks will be asked to be sensitive to the needs of MSMEs and district level interactions will be held between the Bankers and the MSME borrowers.

Shri Narayan Rane expressed hope that with the support of the Finance Minister, MSME sector will spearhead the economic recovery post- pandemic.