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Gadkari wants ratings system for MSMEs for effective monitoring of schemes

By IndianMandarins- 30 Jun 2021
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New Delhi (30.06.2021): Union Minister for MSME and Road Transport and Highways Nitin Gadkari has called for the creation of a rating system for MSMEs and a Dashboard for effective monitoring of MSME schemes. MSMEs contribute nearly 30 percent to the country’s GDP and provide employment to more than 11 crore people which in terms of volume is second after the agricultural sector.
While speaking at a webinar by the Chamber of Indian MSME, CIMSME, Gadkari said that a simple and transparent methodology should be evolved to give ratings to MSMEs having good turnover, GST records to enable them to get finances from banks and institutions. The Minister said that the whole world now wants to invest in Indian industry and with an effective rating system, MSMEs can get good investment from abroad.
He proposed setting up of dashboard for monitoring schemes to prevent delays in decision-making asking SIDBI to take decisions within three months and provide support. The Minister said MSMEs have an important role to play in achieving the Prime Minister’s vision of AtamaNirbhar Bharat. Gadkari said, “It is time to make our system transparent, time-bound, result-oriented and performance-oriented and help appropriate entrepreneurs with good track record.”

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