After failing to get any worthwhile help from the DMK -Government led by M K Stalin, Tamil Nadu Small and Tiny Industries Association, representing the interests of micro and small industries, have approached union finance minister Nirmala Sitharaman, seeking help from the Centre for modernization and technology upgradation of the Micro, Small and Medium Enterprises (MSME) sector in the State.
In a representation to the union finance minister, C K Mohan and S Vasudevan, president and general secretary of TANSTIA has said that small and medium industries are the largest employment providers in the country after agriculture. "But the sector is getting a raw deal from the Government," Vasudevan told The Pioneer.
He pointed out that the union budget for 2022-2023 had allocated Rs 22,000 crore for the MSMEs. "But the Government has spent just 6,000 crore leaving Rs 16,000 crore untouched. The floods of the last two yars have literally destroyed the MSMEs in Tamil Nadu. The then minister Narayan Rane had not visited Tamil Nadu even once to take stock of the situation," said Vasudevan.
The TANSTIA general secretary also said that it was possible to realize the Prime Minister's dream of five trillion dollar economy by helping the MSME units across the country. "Tamil Nasu alone has 40 lakh MSMEs and provide direct jobs to one crore persons while another 50 lakh workers get indirect employment," said Vasudevan.
The TANSTIA has asked the finance minister to increase the subsidy for technology upgradation from the present 15 per cent to 25 per cent. In order to encourage small industries to take up modernization, depreciation for plant and machinery should be increased to 40 per cent, demands TANSTIA. The total depreciation for Research and Development and technology upgradation shall be 1.5 times of the capital value.
The association has also requested the finance minister to bring down the threshold limit to Rs 2 lakh to allow small industries to approach National Company Law Tribunal for realization of the outstanding amount from big enterprises. At present only petitioners who stand to get a minimum amount of Rs one crore from their clients are eligible to approach NCLT with their grievances.
It has also requested that the MSME units which have availed loan up to Rs two crore from the SURFEASI Act. "Such an action will help in the revival of MSME units struggling to get over from financial troubles," Vasudevan explained.
The TANSTI office bearers are tense that the present minister for micro, small and medium enterprises (MSME) will cross 80 years of age this October and does not speak any languages other than Hindi. "What causes disturbance in our mind is how to convince such a minister about our grievances," said Vasudevan.
