BHUBANESWAR: Even as demonetisation and implementation of GST have affected cash-based Micro, Small and Medium Enterprises (MSMEs) and agricultural credit, the proposal to increase agricultural credit by 10 per cent to `11 lakh crore and a host of other policies in the Union Budget would revive demand and create opportunities for the MSME sector, said experts at an event here on Saturday.
Speaking at the seminar on the ‘Budget impact on MSMEs in Odisha’ organised by National Small Industries Corporation (NSIC) Ltd, NSSHO and Bengal Chamber of Commerce and Industry (BCCI), Director of MSME-DI SK Sahu said the budget would benefit the sector, which is labour intensive.
“Reduction in corporate tax rate to 25 per cent of companies with annual turnover up to `250 crore from `50 crore would be of great help. It would leave more investable resources and enable them to not only reinvest and expand, but also help them spend more on research and development,” he said.
The seminar was held as part of the on-going mega trade fair at Janata Maidan. Chairman of BCCI (Trade Promotion and Business Development Committee) and GS Marketing Associates Prakash Shah, NSIC consultant Premananda Dash and NSSHO manager Subhashis Das were present, among others.
The 11-day Home and Decor Exhibition-cum-International Mega Trade fair organised by Real Estate Developers Association of Odisha (REDA) and GS Marketing Associates has been witnessing huge footfall of visitors as the mega event provided tremendous business opportunities.
With the diverse range of industries participating in the trade fair, it provided an excellent opportunity for joint ventures, strategic tie-ups and a wide array of other business possibilities - not only between the participants and the business and general visitors, but also between fellow participant exhibitors.
