Suggestion to FM for Budget 2020

Perspectives of MSME, boatbuilding, innovation, renewable energy:

1. Remove discrimination against water transport. Currently FAME 2 support only for electric vehicles and not for electric boats.

2. Boatbuilders sell at 5%. Input is all 18% and 28%. Delay in refund of tax inversion to be avoided. Notification to get input tax at 5% is not followed by even customs department, working under finance ministry, while importing goods.

3. If service tax is also not included in tax inversion, it incentivises us to allocate services work to small firms without GST registration.

4. Central Govt PSU, Defense tenders kills MSME by keeping conditions like 80% on delivery and 20% after commissioning. The latest Cochin Shipyard tender for electric propulsion of 23 boats (for KMRL) kills MSME from participation (although MSME like Navalt have technology).

5. When Central Govt. PSU, Defense tenders go for global tender, forcing financing (due to payment terms), MSME with high cost of finance cost (12-16%) are at disadvantage against foreign players who get finance at 2-3%.

Will any of them be implemented?

1 comment

  1. To, Honourable Fin.Minister,

    Humble genuine Appeal,

    Since again SBI has reduced interest rates on FDs further down thus making FDs unviable.

    We are greatful to Hon’ble FM & Hon’ble PM for extending PMVVY upto March 2023.Now that PMVVY beomes only viable option for us that senior citizens.

    Hence again we genuinely request your good office to make PMVVY to be 5 years term instead of 10 yrs and remove cap of 15 lacs. It is not going to cost much for the govt.

    We senior citizens are retired after attaining 60 yrs by PSU Sectors.We had put in 38 yrs of our service .After retirement, whatever we got lumsum from PF, we have to keep in PMVVY which is the only option for us.

    Hence we kindly request our able finace minister to keep PMVVY for 5 yrs term and remove the cap of 15 lacs.

    Request kindly look into our appeal & maintain minimum interest rates of 8% for senior retired citizens. This will help them to survive & will have our votes for BJP all the time

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