Ease of Doing Business for MSMEs: All the government services like clearances, issuing licenses, approvals etc. should be online and time-bound. The onus of delay should be on the officer concerned and be made liable for payment of damages for causing delays.
Ease of Doing Business for MSMEs: Lockdown has paralyzed the economy totally. Everyone is worried about his own safety and has preferred to stay home. Even the migrant laborers have returned home. This Covid pandemic has created panic all around. Never before such a condition has occurred nor people have been forced to remain without work. It has been a very difficult situation for daily wage workers, hawkers, utility service personnel and many others who survive on their daily income as the resources have been drying after more than forty days without any work. Government has tried to provide ration to migrants and daily earners, besides charitable institutions have been supportive in some of the areas.
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The revival of the economy will be a big issue in coming times. 2020 seems to be the year of survival. Leave aside earning for posterity. Opening of the industrial sector and business enterprises may ease the situation to some extent but to normalize it will be a long way to go. In the current scenario with the money in hand becoming scarce, the tendency would be to purchase only the essential items. The value-added goods like the automobiles, white goods, luxury items etc. will not be on the priority. Therefore the majority of the businesses will still be struggling to find buyers. Real estate market will also try to find its feet on the ground. Banks and other financial institutions will have to play a very significant role in the coming years. There may not be income but enabling rotation of the economy will be the major criteria.
Source: Financial Express
