No record of MSMEs that shut down during the lockdown: Centre

No data on the number of micro, small and medium enterprises (MSMEs) that have faced closure during the lockdown period.

   

As per reports, the central government on told the members of parliament (MPs) that it has no data on the number of micro, small and medium enterprises (MSMEs) that have faced closure during the lockdown period.

Replying to a question on how many small and medium businesses closed shop from March to August 2020, the Minister of State for MSMEs Pratap Chandra Sarangi said: “No such record is available.”

However, the government admitted that “Covid-19 epidemic has temporarily affected various sectors including micro, small scale enterprises which also affected job scenario”.

In fact, the government went on to add that there was no data on the number of MSMEs closed down from FY 2014-15 to FY 2019-20 either.

Although, they listed the measures the government has taken for the sector, including the Rs 20,000 crore subordinate debt for MSMEs, Rs 3 lakh crore collateral-free automatic loans for business, including MSMEs, and Rs 50,000 crore equity infusion through an ‘MSME Fund of Funds’.


[contact-form-7 id="401" title="Newsletter"]