“My expectation from Budget for MSMEs has always been the same which is the simplification of Tax regulations and other compliances. Usually small businesses are a one-man army, or at best, functions with limited manpower. Hence, getting the compliances done is costly and time consuming. Its simplification will help MSMEs to devote more time to their business and innovation.
Implementation of GST has simplified the tax regime as in the erstwhile vat regime, it was quite complicated. Although, it still needs further simplification.
Similarly, as they work on a long credit cycle and slim profit margin, easy access to credit at a cheaper rate becomes crucial. This must be addressed by the government to help doing business easy” – Mr Dinesh Agarwal, Founder & Chief Executive Officer, IndiaMART