The government and Reserve Bank of India are considering a series of measures to enhance credit flow to the\n\nsmall scale industry at prime lending rates and on collateral security.
GST would make compliance easier for big businesses, but hurt small scale industries., says SJM
Concerned with the inadequate availability of credit to the small-scale sector, Minister of Small Scale Industries C P Thakur on Thursday said he will soon take up the issue with finance ministry and the Reserve Bank of India.
The government is considering the setting up of a mutual guarantee fund by the IT/software industry associations as part of efforts to ease availability of finance for small IT entrepreneurs, a top official said on Friday.\n\n\n\n
While the economy has been averaging an annual growth rate of around 8.7 per cent for the last five years, the unorganised manufacturing sector is slowing down.
The Small Industries Development Bank of India will soon ink a strategic tie-up agreement with a commercial bank for extending direct credit facilities to the small-scale sector.
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