2023-24 Economic Survey calls for deregulation, ease of compliance, and improved funding access for India's MSMEs.
The Economic Survey 2023-24 emphasized the need to deregulate and ease compliance for India's micro, small, and medium enterprises (MSMEs). The sector, which contributes 30% to the country's GDP and 45% to manufacturing output, faces extensive regulation and compliance requirements, and significant bottlenecks in accessing affordable and timely funding. The Survey called for a single-window mechanism for clearances, digitisation of processes, and grassroots-level facilitation to ensure market access for MSME products.
July 22, 2024
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