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Since a majority of businesses are Micro and unorganized they face a challenge in getting financial support from banks even though they fall under priority lending sector.
“I wish that the upcoming budget has policies that can influence banks to give priority lending to MSMEs. This sector needs tremendous financial push at various phases and it is vital that there are procedures that facilitate easy and adequate flow of fund by banks. Since a majority of businesses are Micro and unorganized they face a challenge in getting financial support from banks even though they fall under priority lending sector. In addition, it is important that there are measures introduced to implement schemes like CGTMSE (Credit Guarantee Fund Trust for Small and Medium Enterprise) in a more effective manner. Also, special thrust needs to be given on actual disbursement of these funds.”
Dinesh Agarwal, Founder and CEO, IndiaMART.com
Read more at http://www.indiainfoline.com/Markets/News/Pre-Budget-Expectation-2013-IndiaMART.com/5615390627