Activities Round Up

Date : 14 Oct to 14 Oct 2017
Place : New Delhi
Organised by : FISME

FISME CEC Discusses urgent issues related to MSMEs

The Central Executive Committee of FISME held a meeting recently and discussed the crucial issues before the MSME sector. The meeting was chaired by Mr. Dinesh Chandra Tripathi, President, FISME, and discussed the problems MSMEs are facing in implementing GST. The Committee identified areas like working capital blocked in transition credits and delayed reimbursement of IGST to exporters. At the meeting it was decided that FISME will take up the issues with the Government at the earliest.

The ongoing restructuring of labour law regime was also discussed at the meeting. The Committee expressed strong reservation on the all India minimum wage proposed in the draft wage bill. The CEC was unanimous that such a directive will be un-implementable by MSMEs and will only promote shady operations. 

The CEC also expressed deep concern on the near static credit growth in the MSME sector and urged the Government to opt for credit  need assessment based on the  fund flows and assess the credit worthiness of MSMEs accordingly.

The ongoing Bankruptcy proceedings  by the banks also attracted  attention of the CEC. While welcoming the Bankruptcy code and the proceedings initiated against large debtors, the CEC alerted the Government to safeguard MSMEs from filing of Bankruptcy proceedings on flimsy grounds.

The decisions of the CEC will be diligently pursued by FISME with the authorities concerned.