New Delhi: The target of getting to the top 50 in ‘Ease of Doing Business’ is no more a slogan, in fact it’s a very realisable dream, Union Finance Minister Arun Jaitley said on Friday. “When we came to power, we were the ninth largest economy; now we’re the sixth and soon we’ll be the fifth,” Jaitley said at the launch of Centre’s Support and Outreach Initiative for Micro, Small and Medium Enterprises (MSMEs).
There is still a lot of room to make progress, be it rural empowerment or infrastructure development. 70,000 loans up to Rs 1 cr have already been sanctioned under the 59-minute scheme, this is the nature of the demand, he added. Jaitley also informed that funds are reaching to the people as direct benefit and the government is saving Rs 90,000 crore and is working in a focused manner to tackle the sectoral challenges in Micro, Small and Medium Enterprises (MSMEs).
On Wednesday, India recorded a jump of 23 positions against its rank of 100 in 2017 to be placed at 77th rank among 190 countries as per the World Bank’s ‘Ease of Doing Business’ report. The Union government has accorded high priority to the MSME sector in recent years. This outreach and suport programme, whch will run for next 100 days, covering the entire country, is expected to provide even greater synergy to the efforts being made for this sector.