MSME,s are the biggest employers 80% of themare operated by families They do not have means to deal with Financial Institutions Surprisingly there is a clause in the agreements that if repaid earlier and opt for another financial institution at lesser rates of interest THE FINANCIAL INSTITUTIONS ARE CHARGING PENALTIES however if it becomes NPA the interests are not charged from that day Because of competition of financial institutions They are offering loans at 8.75to9% to good and honest loaners BUT because of the PENALTY CLAUSE MSME,s are unable to shift to another financial institutions Govt should ATLEAST issue instructions NOT TO CHARGE PENALTIES
It is cunning budget befooling us all. As nothing happens to salary, perqs. and pension to govt. servants,there services are guaranteed, as such punish maximum by way of taxes to common man and tax payers.
launched on 8th November by the PM was touted and publicized by the BJP as the equivalent of a financial tsunami - that would certainly lead to a massive blow against black money and yield the government an immediate bonanza worth several lakh crores of rupees.
Further, BJP leaders went around in shrill campaigns on TV screens swearing that such a massive windfall would deliver several big benefits (steep fall in revenue deficit, a boom in investments, etc.).
The demonetization drive started on 8th November and concluded on 31st December.
But, till date, the government has not given out the data regarding the total quantum of cash deposited back in the banks as a result of the demonetization !
Till date, the government has not given out data regarding the amount of black money it cornered !
Further, the RBI, which was regularly giving out data during the demonetization regarding the quantum of cash deposited back in banks, was suddenly asked by the government (on 12th December) to discontinue doing so !
Further, the budget for the year 2017-18, presented in Parliament on 1st February, does not say a word about the demonetization or what its results are !
Considering that a financial tsunami was supposed to have taken place, the Union governments annual financial statement (budget) was one place in which one could have expected to hear about it !
Re: , the budget is totally lacking in Imagination ..
by Rakesh Dandekar on Feb 03, 2017 11:44 AM
since May 2014 after coming to power they did nothing. Whatever Loot govt created jobs, and other development is as it is no change. Only we heard during these days only Bhashan and nothing else. Tell me one thing any new venture come to force, loot scam govt is much better than this honesh govt. this govt intention is to finish only Gandhi/Nehru family and nothing else as this family keep away to RSS and this man is from RSS. this govt is taking gurge with Nehru/Gandhi family and nothing else. one man is rich during this govt is MR AB for adversement of Swach Bharat but reality there is nothing. anyway we still hope for betterment.
When komaaaali Modi pounced on the half baked idea of sudden demonetization (whispered into his ears by his half baked economic affairs secretary - Shaktikanta Das) and launched it without having even a basic understanding of what it would imply, MSMEs and their health would not have occurred to anyone in the government !
The clown prime minister of the country apparently believed that demonetisation and its effects would all be in black and white (with no shades of grey anywhere) !
How was such a clown to know that unless remedial steps for immediate relief to affected parties are available, one should not jump into such tughlaq measures ??
