Share of MSME in public procurement should be increased: NCP

Mumbai, May 13 () Union Finance Minister NirmalaSitharaman should increase the share of MSME under the publicprocurement policy from the current 25 per cent to 50 per centto expand their capabilities, the NCP said on Wednesday.

Sitharaman announced the first set of components ofthe Rs 20 lakh crore special economic package declared byPrime Minister Narendra Modi earilier on Wednesday.

"The FM today changed the definitions of MSME (Micro,Small and Medium Enterprises) by revising the capital inflowand turnover cap.

"She should increase the share of MSMEs under thepublic procurement policy from the current 25 per cent to 50per cent," said NCP spokesperson Mahesh Tapase.

"This will greatly help MSMEs to expand theircapabilities and take benefit of the corpus fund announced bythe FM," he added.

The NCP spokesperson also demanded that the quota forwomen entrepreneurs and those from weaker sections beincreased as per the norms.

Sitharaman announced Rs 3 lakh crore collateral freeautomatic loan for businesses, including MSME.

The Finance Minister also said that a fund of fundsfor MSME was being created, which will infuse Rs 50,000 croreequity in MSME with growth potential. ENMKRK KRK