On behalf of the Tamil Nadu Appalam Vadagam Mor Vathal Association, we appeal to the Central and State Governments and the Reserve Bank.
Since the Corona era, the growth of small and micro industries has been gradually declining. This has an economic impact. Besides, interest rates for small companies are rising. With the recession and lack of cash flow, many businesses have come to the point of closure. The reason is the rise in the cost of raw materials for every industry and hence the price is not available in the market. Electricity tariff hikes manifold, thus reducing production capacity. The interest rate in the bank is increasing. During the Corona period, the Reserve Bank of India has announced the time period for the loan repayment, during that period, the interest collection in the name of cheque bouse is not only the collection of appadaratpatti but also the CIBIL is affected. As a result, they could not get loans from other banks. Even if you get a loan in some banks, the interest is high.
Despite this, the lack of GST, the increase in electricity tariff, increase in rent, increase in the price of all raw materials, and the scarcity of all raw materials, despite this, the GST tax rates continue to be hampered by the officials that the GST rates vary from state to state. At present, it is rare for a second generation to enter the business.
Though bringing in foreign investment is a special feature of India, the central and state governments have the responsibility to protect the MSMEs here. First of all, efforts should be made by the central and state governments to enrich and strengthen us. The reason is the small scale industry of the country. Don't break it up. If this is not resolved immediately, within two years, 70% of the industry will be shut down and lakhs of people will lose their jobs and livelihoods. Despite this, public and private banks are on the rise. The Reserve Bank of India (RBI) should bring in the system of private banks. Until the last few months, they've been paying attention.
At present, due to the economic situation and lack of business, the industrialists, who are unable to pay the monthly installments, insult the entrepreneurs with the bomb, go to the production companies and sit in the production companies and talk about the law, every phone from Chennai, we are talking from Mumbai, they are disturbed throughout the night and try to commit suicide. This has been a recurring story. The Reserve Bank of India (RBI) should put an end to all this. The police should also stop this immediately. At least life will be saved. The Tamil Nadu Appalam Vadagam Morvathal Association urges the Reserve Bank of India and the Central and State Governments to give more time to the bank to save the business.
State President Dr. K. Thirumurugan Tamil Nadu Appalam Vadagam Morvathal Sangam