RBI Constitutes Expert Committee on Micro, Small & Medium Enterprises (MSMEs)
In the recent past, MSMEs or Micro, Small & Medium Enterprises have encountered several hurdles at and post the advent of GST implementation and demonetization. The MSME is one of the important segments of the economy contributing to production, employment generation and exports. The production of the MSMEs forms a significant portion of the GDP composition. That being the reason, the RBI board has emphasized the need of studying the present state of MSMEs and the problems encountered by them. The government is also concerned with the issues pertaining to the MSMEs and would like to extend necessary assistance.
In view of the feedback received from the industry in this regards, the Reserve Bank of India in its bi-monthly monetary policy statement dated 5th December 2018 declared that the RBI would be forming a committee to study the structural bottlenecks of MSMEs and the factors affecting the performance of the MSMEs.