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long-pending demands of msmes ignored in union budget

by:QY Precision      2019-10-29
The focus of the Union budget is on skills development, beginning
Business Development.
But there is nothing for micro, small and medium size
Enterprise of scale (MSMEs)
Industry representative said. According to C.
Muthusami, president of Tamilnadu small and small Industries Association, some of
Outstanding requirements of small and medium-sized enterprises, such as raising the consumption tax exemption limit (from Rs. 1. 5 crore to Rs. 5 crore)
The higher depreciation benefits of CNC machines have not yet been resolved.
The consumption tax exemption limit was set 10 years ago.
Since then, the price of raw materials has risen, he said.
Even the increase in the turnover limit of the presumed tax plan from Rs. 1 crore to Rs.
As the turnover is lower than the rupee, crore may not bring much benefit to SMEs.
1 crore for most micro units.
President of South India Engineering Manufacturers Association v.
Lakshminarayanaswamy said that the growth of engineering units will be hit by accelerated depreciation and reduced R & D expenditures.
The pump industry was disappointed because there was no mention of replacing the pump with an energy-efficient pump, although there were announcements from several agricultural sectors in the budget.
According to E. K.
Ponnuswamy, the budget gives the thrust to start-
Ups and skills development.
It benefits women, Scheduled Castes and registered tribal entrepreneurs, and offers a variety of skills institutions and start-up development through online projects.
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