MSME industry demands separate pre-budget consultations

NEW DELHI: Micro, small and medium enterprises, which contribute 45 per cent in the manufacturing sector, today demanded that there should be a separate consultations with them in the run-up to the Union Budget.

The Federation of Indian Micro and Small & Medium Enterprises (FISME) said in a statement that the MSME sector the Finance Ministry used to hold separate pre-Budget consultations till 2004.

At present, Finance Ministry holds combined meeting with the industry representing both small and large sectors. "The MSME sector has its own set of issues distinct from the large companies. Their needs and aspirations require customised policy responses," said FISME President V K Agarwal.

The MSME sector contributes eight per cent of the country's gross domestic product (GDP) and 40 per cent of total exports.

The Finance Minister Pranab Mukherjee has begun consultations for the 2012-13 Budget. He has already met agriculturists. The meeting with the industry is scheduled to be held on January 31.