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'Report to people 2004-2007' - Ministry of small scale industries

May '07
The following are the excerpts from the “Report to the People 2004-2007” on Small Scale Industries & Agro and Rural Industries. The report was released by the Prime Minister Dr. Manmohan Singh on 22nd May, 2007.

The Micro, Small and Medium Enterprises Development Act, 2006 provides the first-ever legal frame for covering services along with manufacturing under the concept of enterprises, progressive classification of enterprises, statutory consultative mechanism, establishment of a fund for promotion and development of such enterprises, preference in government procurement of products and services of such enterprises, effective mechanism for mitigating problems of delayed payments, etc.

A major promotional package has been announced and this includes measures to address most of the concerns in areas of credit, cluster-based development, technology upgrade, marketing, infrastructure upgrade, etc. The corpus of the Credit Guarantee Fund is being revised from Rs. 1,132 crore in March 2006 to Rs. 2,500 crore over a period of five years.

Following the credit policy for small and medium enterprises announced in 2005, outstanding credit to the sector increased from Rs. 135,200 crore in 2005 end to Rs. 173,460 crore in 2006 end.

A major step has been taken towards provision of social security to labour in the unorganised sector in rural areas through enactment of the National Rural Employment Guarantee Act.

The National Commission on Enterprises in the Unorganised Sector has been set up to act as an advisory body and a watchdog and to submit periodic reports to the Government.

Its terms of reference cover broadly the entire gamut of issues relating to unorganised sector and it has done significant work on relevant legislation through wide-ranging consultations with stakeholders, particularly state governments with the objective of providing a social security net, including health insurance and other schemes for these workers.

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