How can festive spending help revive the Indian MSME?
For the Indian economy to recover from COVID-19, it is critical that the demand for small and mid sized businesses recovers. With the festive season kicking off soon, we would like to seek your inputs on what should be done by Industry, Consumers, Government and other stakeholders to help revive the Indian economy.
Do share your ideas and inputs and we will escalate them and create public awareness so together we get the small businesses of the country going again? more
Encourage buying from small vendors particularly farm products ,like vegetables etc.Govt servants drawing salary can spend a little more ,encourage activities of repairs ,maintenance works etc. more
MSMEs get vast Sale, Profits ; Govts get increased Revenue ON FESTIVE OCCASIONS more
Complete easing of lock down with adequate precaution besides granting specific liberal concession to the sector. more
Allow all purchases below Rs. 10000/- free of GST by collecting the Aadhaar or voters ID and all purchase below Rs. 20000/-free of GST by collecting PAN card as proof for a limited period during festival season. more
To revive economy, government will have to change its financial policy of providing benefits to industry at the cost of small depositors and senior citizens. To provide incentive to industry in form of lower interest on loans, interest on deposits have been cut to about one half. This has resulted in reduction of disposable income in the hands of consumers.
Unless this policy is reversed I think it is not possible to reverse the present trend. More consumers in market will give boost to industry and not more production with consumer confidence at its lowest. more