Union Minister Kalraj Mishra on 2 May said that around 1.1 million jobs have been created in the last three years under the flagship scheme of the MSME Ministry — the Prime Minister’s Employment Generation Programme, debunking claims of ‘jobless growth’ in the three years of the Narendra Modi-led NDA government

He said that those making such assertions were far removed from reality.

Sharing job numbers created from various schemes under the micro, small and medium enterprises (MSME) Ministry, Mishra said efforts were being made towards employment generation.

However, he admitted that there were “difficulties initially” and some job losses after demonetisation, adding that the jobs were restored after a few months.

Asked about the implications of the rollout of Goods and Services Tax on the MSME sector, the Minister said if there are difficulties, the government will think over them.

The excise duty exemption limit for micro, small and medium enterprises (MSME) is Rs 1.5 crore at present. However, the GST Council has set a threshold limit for the exemption in the rest of India (excluding businesses in the Northeastern and hill states) at an annual turnover of Rs 20 lakh.

Addressing a press conference in New Delhi, Union MSME Minister Mishra said the country will soon have a comprehensive policy for micro, small and medium enterprises.

He said the policy will be unveiled shortly after some modifications in the report submitted by the one-member panel of former Cabinet Secretary Prabhat Kumar.

The country does not have an MSME policy till date. Kumar had submitted a report on formulation of a National MSME Policy to Mishra earlier this year.

Source: Business Standard