Lockdown and Ensuing Economic Crisis Will Destroy MSMEs: Experts
Video Editor: Ashutosh Bharadwaj
The national lockdown imposed because of the coronavirus outbreak has seriously impacted a number of spaces, one in all them being the country’s financial system and thereby MSMEs which were present process critical losses all the way through the lockdown.
Experts and marketers speculate that the lockdown which can result in an financial disaster within the nation will wreck no matter is left of the MSMEs.
Sameer Singh, the General Secretary of Laghu Udyog Bharti says that because of the lockdown and loss of cash coming in, “paying electrical energy expenses, safety fees and financial institution passion of factories have develop into an issue.”
Entrepreneurs request the federal government to lend a hand them through offering monetary help. They have additionally instructed that the federal government must waive financial institution loans and pay a minimum of 50 p.c salaries of the employees, including that the federal government must ban imports and use merchandise made through SMEs.