After the Central government announced revised guidelines for MSMEs with the inclusion of Retail and Wholesale trades as MSMEs, Prime Minister Narendra Modi on Saturday termed it a “landmark” step and said that the move would help boost traders business and would also give them various benefits.
“Our government has taken a landmark step of including retail and wholesale trade as MSME. This will help crores of our traders get easier finance, various other benefits and also help boost their business. We are committed to empowering our traders,” PM Modi tweeted.
In a Tweet, he said under the leadership of PM Narendra Modi, the Centre is committed to the strengthening of MSME and make them engines for economic growth.
Gadkari said the revised guidelines will benefit 2.5 crore Retail and Wholesale Traders. He said Retail and wholesale trade were left out of the ambit of MSME, now under the revised guidelines, retail and wholesale trade will also get the benefit of priority sector lending under RBI guidelines.
With the revised guidelines, the Retail and wholesale trades will be now be allowed to register on Udyam Registration Portal.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.