22nd January, 2021
Budget Related News

Will the Budget provide necessary support to FISME and other small sector enterprises?

Anil Bharadwaj, the secretary-general of FISME (Federation of Indian Micro, and Small and & Medium Enterprises) hopes that Narendra Modi will provide some relief in the upcoming budget 2017. He represents 743 small enterprises which consist of more than 2 million employees.

Informal sector and FISME

FISME members are generally under the radar but they are a significant part of the informal sector which employs more than 90% of India’s work population. Bharadwaj suggests that this demonetization scheme has crippled small industries like Haryana’s Yamunanagar which was the center for India’s plywood industry. The transition to cashless economy is very expensive and thus unfavorable.

Other problems and demands

FISME members want Rashtriya Swasthya Bima Yojana which will provide them with health benefits. Also there has been a refurbished desire for Mudra loans for small entrepreneurs.

Future plans

The different government initiatives like Start Up India, Stand Up India, and also Sagar Mala Project will be boosted in this budget.