Visakhapatnam: The Andhra Pradesh government should take immediate steps for the revival of the many sick micro, small, medium enterprises and also help in the establishment of new ones, according to BV Rama Rao, President of the Federation of Andhra Pradesh Industries (FAPI).He said at a press meet here that the State government had allocated ₹100 crorefor the revival of the sick MSMEs , but it was grossly inadequate. “The MSME sector has been grossly neglected by both the Union and the State governments and immediate corrective measures should be taken.
It is the sector which provides employment on a large scale and the Make-in-India campaign should focus on MSMEs,” he said.
He said several co-operative sugar factories, ferro-alloy units in the private sector and many jute units in north-coastal districts are in crisis and many of them have stopped production. The government should take steps to revive them.
He also lamented that the banks were seeking collateral security for loans under the Mudra scheme.
Source: The Business Line
