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MSME ministry will raise GST related issues with finance minister: Gadkari
Dec-04-2019

In order to provide some relief to micro, small and medium enterprises (MSME) sector, Minister of MSME, Nitin Gadkari has said that the MSME ministry will raise Goods and Services Tax (GST) related issues faced by the small and medium enterprises with the Finance Minister and try to find solutions for the sector.

Further, the Minister highlighted the government’s plan to introduce a digital database credit rating system for the MSMEs which will help them to raise funds through the capital market. Besides, he urged the industry to focus on rural and tribal areas for expansion and reducing the cost of production, as these areas have both land and manpower available at a much lower cost as compared to the urban areas.

Gadkari said that if more industries are set up in these areas, the problems of urban areas can be address effectively and added that the government is making policies on this basis. Gadkari also emphasized on the need to increase exports and reduce import dependence. He said ‘If we want to become competitive in international markets, we must reduce our capital cost as well as logistics cost.’

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