The four cheers for MSMEs in the Finance minister's statement to boost Indian Economy.

A) Higher credit availablility:


• Co-origination of #loans by PSBs jointly with NBFCs: PSBs to fast track collaboration for loans to MSMEs, small traders Self Help Groups in coorigination mode with NBFCs


• Additional Credit expansion through PSBs Upfront release of Rs. 70,000 Cr., additional lending and liquidity to the tune of ~ Rs 5 Lakh crore by providing upfront Capital to #PSBs


B) #Cashflow protection:


• GST Refund within 30 days: In future all #GST refunds shall be paid within 60 days from the date of application


• Bill discounting: TReDS to use #GSTN system in medium term to enhance market for bill discounting for MSMEs


• Online tracking of #loan applications: On line tracking of loan applications, Housing, Vehicle, working Capital, limit enhancements, renewals etc.


C) Ease of Doing Business:


• No Confusion: Amendment to #MSME Act to move towards single definition to be considered.


• Transparent One Time Settlement (OTS) Policy Check box approach for settling their overdues.


D) Future Hope:


• UK Sinha Committee Decisions on recommendations such as on ease of credit, marketing, technology, etc. within 30 days


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