With continued sluggishness in Indian economy, Prime Minister Narendra Modi seems to have taken the cudgels himself to change course.
In a series of meetings with leaders of key sectors, PM Modi met representatives from MSME, FMCG and renewable energy sectors on 27th Dec 2019 at his residence in New Delhi.
In a marathon meeting lasting almost two hours and a half, the discussions were candid and free flowing, KNN learnt.
Representing MSME sector, Anil Bhardwaj Secretary General of Federation of Indian Micro and Small & Medium Enterprises (FISME) highlighted before the PM a series of short and long term intervention to rejuvenate MSMEs.
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To address the extreme stress being faced by MSMEs due to host of factors and slowdown, FISME demanded ‘immediate re-fixation of limits both Fund and Non-Fund to 50% of turnover and the ageing period of receivables/stocks increased to 180 days, without additional collateral’.
Source: KNN
