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Indian economy particularly  in terms of   export and employment is facing  severe financial crunch

Newdelhi: 28/7/17:MSME sector which contributes significantly  to the Indian economy particularly  in terms of   export and employment is facing  severe financial crunch . The capital inflow  for growth of the sector is much below the expectation.  As a fall out of it the sector is languishing This was observed by Balasore MP and member of standing committee on industry RK Jena , in a meeting of ASSOCHAM   (The Associated Chambers of Commerce and Industry of India ) held recently in Delhi .

Deliberating on a topic in the meeting ’11 International summit SEZ and Industrial parks’ , Jena said when Britishers  entered into India  the contribution  of our country  to world market was about 45 percent , but after 200 years of rule when they left (India)  the contribution reduced drastically  to  mere 2 percent as the small and medium industry sector witnessed a terrible neglect .

He  observed that although the successive governments  had made effort to revive  the MSME sector, which employs about 94 percent of work force  of unorganized sectors,   yet failed to yield any substantial  result  due to various factors .One of the major reasons  for plugging of MSME sector     is  unavailability  of capital . The  shortfall in the flow of credit is around  Rs 32.5 trillion in the sector, as per various World bank reports  ,Jena maintained .

“About two and half a decade ago although liberalization has taken place in India and several reforms were effected   yet unfortunately  no tangible  change  is witnessed  in the MSME sector . The liberalization leverage  has been availed  by the corporate sector but  MSME sector continue suffer with the bottle neck of credit  inflow. For  revival  of the MSME sector  the need of hour a better legislative and regulatory environment besides  finance and market,” said Jena.

 

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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