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Draft MSME policy: Govt further extends deadline for feedback from MSMEs, associations, others

Ease of Doing Business for MSMEs: The draft policy was released by the government in February inviting feedback on the measures suggested to promote competitiveness among MSMEs, boost technology upgradation, cluster and infrastructure development, procurement of MSME products and provide dedicated credit support.

 

The draft policy was prepared by the academic institution Indian Institute of Public Administration (IIPA) under the Ministry of Personnel, Public Grievances and Pensions.

Ease of Doing Business for MSMEs: The MSME Ministry has further extended the deadline for feedback from MSME stakeholders on the draft national MSME 

policy by two weeks. According to the notification published on the MSME Development Commissioner website on Wednesday, the last date for receiving comments from all stakeholders, industry associations, MSME units, general public on the draft document has been extended to March 31, 2022. The ministry had earlier this month also extended the deadline from February end till March 15.

The draft policy was released by the government in February inviting feedback on the measures suggested to promote competitiveness among MSMEs, boost technology upgradation, cluster and infrastructure development, procurement of MSME products and provide dedicated credit support.

According to the notification, the draft policy was prepared by the academic institution Indian Institute of Public Administration (IIPA) under the Ministry of Personnel, Public Grievances and Pensions. IIPA undertakes training, research and information dissemination related to public administration.

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“Complete stakeholders? participation is very important in policy matters in order to ensure citizen or business-centric guidelines are framed. The government is looking to get maximum feedback on the current draft with the two-week extension. Also, it is the government?s discretion to decide on the period of extension,” a source familiar with the draft policy had told Financial Express Online on anonymity on the initial extension.

The key focus areas in the draft policy included setting Standard Operating Procedures (SOP) for registration of MSMEs, creating more facilitation councils, having uniformity in various loan application formats, setting up a “focused institution” to encourage technology development among MSMEs, enabling data analytics for MSME related data, linking clusters with the transport infrastructure, establishing a Cell in the District Industries Centre to gather information from various training entities about the training programmes to be conducted by them, and aligning MSMEs with a Fast Track Corporate Insolvency Resolution Process.