'GST.. a positive reform' lauds the MSME sector in India..!

New Delhi, February 25: Despite the fact that lots of people criticised Goods and Service Tax for the way it was implemented, Micro Small and Medium Enterprises  across the country termed it as the single biggest reform that has made the business environment better, according to a recent survey released by the India SME Forum.

 

Nearly 62.13% of MSMEs surveyed, termed GST as the single biggest reform or that it made running business easier, though 9% of MSMEs said that more work is needed to implement GST, said survey report on state of MSME in India.

According to the report, only 28% of MSMEs held introduction of GST responsible for MSMEs going out of business or for GST making business tougher for MSMEs. States where MSMEs have been highly positive about GST are Uttar Pradesh with 77.49%, Delhi with 77.25%, Haryana with 70.49%, Maharashtra with 69.40%, Madhya Pradesh with 69.13%, Andhra Pradesh with 69.08%, Kerala with 67.88%, Rajasthan with 66.92% and Tamil Nadu with 65.03%.

On the other hand, states including Gujarat with 44.07%, Jharkhand with 46.69% and West Bengal with 46.19% show the least number of MSMEs calling GST a positive move for MSMEs. On the issue of demonetisation in November 2016, the survey revealed that an average of 58% of MSMEs across India, agreed with the contention that the move probably led to negative growth for MSMEs in India, whereas 20% were not sure.

The MSMEs meanwhile surveyed gave a big thumbs up to the work of the Central Government headed by the Prime Minister Narendra Modi. States where large numbers of MSMEs perceived positive change due to central government initiatives are Uttar Pradesh (72.72%), Maharashtra (67.79%) and Delhi (66.05%).