Ease of Doing Business for MSMEs: Minister for MSME Nitin Gadkari said there is a need to focus on all-round efforts for the implementation of various initiatives undertaken as part of Aatmanirbhar Bharat.
Ease of Doing Business for MSMEs: On the occasion of International MSME Day, during the virtual conference, ‘Indian MSMEs as Growth Engines to Economy’ Minister for MSME Nitin Gadkari announced the integration of Udyam Registration Portal with Common Service Centre (CSC) Portal to increase penetration of benefits of various government schemes amongst MSMEs in far-flung areas.
He said, “the ministry exists to work on the vision of unshackle the MSME and unleash their full potential, to double their contribution towards five trillion economy.” He said there is a need to give priority to enterprises in rural, agriculture and the tribal sector.
He added there is a need to focus on all-round efforts for the implementation of various initiatives undertaken as part of Aatmanirbhar Bharat.
For instance, he said the process of MSME registration is simplified wherein the business owner will be required to submit only PAN and Aadhaar to get registered on the Udyam Registration portal to avail benefits of various schemes.
He also said schemes have to be launched in a timely manner. “The most important thing is the time period for all the schemes. I am trying my level best ….. that within six months we need to take any decision ….. about the sanctioning of the schemes.” He said sometimes it takes up to five or seven years for schemes to get sanctioned. He said they are also planning on “making a dashboard, by which we can monitor the application of every person who is applying for the loan in the bank”. The idea is that the process is “transparent, time-bound, result-oriented and corruption-free. So by dashboard, we can monitor things, and we will get exactly where is the problem,” he said.
Further, he also urged to make use of technology and mentioned that research, innovation, and quality improvement can play a major role in industrial development. The virtual conference was organised by the Ministry of MSME in association with several MSME industry associations