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Does PM Modi love small businesses?
Does PM Modi love small businesses?
Brief:
- When PM Modi launched Make In India program, it invited big businesses to do business in India. It had left out small businesses.
It’s difficult to get loans for working capital or capital expenditure. Demonetisation and GST have harmed small businesses.
It seems Modi wants to woo small businesses again. After all they produce nearly 50% of India’s GDP. 99% of German businesses are small businesses.
What will it do for businesses?
MSMEs will be able to get loan upto INR 1 crore in 60 minutes.
Government will help small businesses upgrade technology.
Businesses filing their GST, will get discounts in paying interest.
How will it help Delhi-NCR?
It will directly benefit industries of Delhi-NCR, as it is a hub of industries such as garments, furniture, automotive parts, hospitality, financial services, food processing etc.
Easy loans and technology upgrade will help in working capital and fixed cost expenditure on machinery and technology.
Local businesses will be able to recoup their losses due to the past missteps of the government. It will also employ more people.
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