Budget 2017: Need better handling of SMEs by banks, says Sitharaman

At the World Economic Forum in Davos, Commerce Minister Nirmala Sitharaman shared her Budget recommendation for the small and medium-sized enterprise (SME) sector and her opinion on the roll-out of goods and services tax (GST) on July 1.

Sitharaman suggested better handling of SMEs by banking institutions and also to provide them better tendering opportunities.

She said many ancilliary units have troubles in dealing with the tendering process in which the first two questions are for how long they have been in the business and what is the company’s turnover. According to her, these turnout as hurdles for both the SMEs and start-ups.

Stage has been set for the roll-out of goods and services tax (GST) and Sitharaman says Finance Minister Arun Jaitley is inching closer to solution.

She also said GST cannot be linked with demonetization.

Source: Moneycontrol