The Central Government has included Retailers and Wholesale traders under the purview of Micro, Small and Medium Enterprises (MSME). Prime Minister Narendra Modi has called this decision historic.
New Delhi : There is good news for retail and wholesale traders. The Central Government has included Retailers and Wholesale traders under the purview of Micro, Small and Medium Enterprises (MSME). The government has taken this decision to overcome the huge loss caused to the retail and wholesale traders due to the Coronavirus epidemic.
Historic Decision says PM Modi
Prime Minister Narendra Modi has called this decision historic. He tweeted that our government has taken a historic step to include retail and wholesale business as MSMEs. This will help crores of our traders to get loans easily. They will get many other benefits and their business will also get a boost. We are committed to empowering our merchants.
Nitin Gadkari had declared
Declaring this by tweeting, MSME Minister Nitin Gadkari said, under the leadership of Prime Minister Narendra Modi, we are committed to strengthen MSMEs. This will help us in economic growth. In this regard, 2.5 crore retail and wholesale traders will benefit from the revised guidelines of the government. At the same time, he also said that this decision has been taken in view of the problems caused by the second wave of the Corona epidemic.
Positive Response from Trade Associations
Trade Associations also reacted positively to the government's decision to bring retail and wholesale trade under the purview of Micro, Small and Medium Enterprises (MSMEs). The traders' organization says that after this decision of the government, the retail and wholesale business will also be able to get loans from banks and financial institutions in priority category. At the same time, the Confederation of All India Traders (CAIT) said that after this decision, traders will come under the category of MSMEs and they will be helped in raising priority sector loans from banks and financial institutions and now they could also have several benefits of other Government schemes.