Prime Minister Manmohan Singh on Saturday received the report of the task force on micro, small and medium enterprises (MSME) that has recommended changes in policies to help growth of the sector. The task force has also recommended a roadmap for the development and promotion of the sector crucial for economic growth and employment generation.
The task force, headed T.K.A. Nair, Principal Secretary to the Prime Minister, has called for an agenda for immediate action to provide relief and incentives to MSMEs, especially in the aftermath of the recent economic slowdown, accompanied by institutional changes and detailing of programmes, to be achieved in a time-bound manner. It has also suggested setting up of appropriate legal and regulatory structures to create a conducive environment for entrepreneurship and growth of MSMEs.
After receiving the report, Dr. Singh said India needed thriving, vibrant and strong enterprises in the micro, small and medium segment for all-round economic development.
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Commending the task force for the detailed and painstaking analysis done and the pragmatic recommendations put forth in its report, the Prime Minister said implementation of the recommendations should be taken up earnestly and in a time-bound manner to give a sustained impetus to this sector.
The Prime Minister asked MSME Minister Dinsha Patel to take the lead and spearhead policy reform for this sector. Dr. Singh had announced setting up of the Task Force in August last year after pleas from representatives of prominent MSME associations regarding their issues and concerns.