Budget 2018: MSME Sector Wants Easy Credit, Tax Reduction | Read
India's Medium, small and micro industry also known as MSME sector creates the back bone of industry. Today more than 36 million units registered under MSMEs provide employment to 120 million people across the country. Despite ups and downs of industry, this sector grew at a steady rate. However, in past one year, entrepreneurs have faced problems owing to Demonetisation and GST. The first thing these entrepreneurs want is easy credit and reduction in the corporate tax, a promise made in last general budget. Kapil Chopra, MD of SKN-Bentex group based in Narayana industrial area in Delhi, says, "Even today the corporate tax is 30 %. If you add cess and surcharge it becomes 35%. It should not be more than 25% going by international standards."
