The politically sensitive small and medium enterprises (SMEs) and agriculture sectors will be the top priority of the new Narendra Modi government in the coming days. The Centre plans to further push credit growth to small industries in an attempt to boost economic growth and create jobs.
Small industries were badly hit by demonetisation and in the initial rollout of the Goods and Services Tax (GST). The government is keen to restart the growth cycle in small industries as it is one of the major sources of jobs in the country. During the bitterly-fought Lok Sabha poll campaign, the government was severely criticised by the Opposition for job losses in the SME sector and over farmers’ distress.
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