88% of SMB’s yet to avail stimulus benefits

  • June 25, 2021
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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88% of SMB’s yet to avail stimulus benefits

Subject : Economy

Context : A nationwide survey conducted among self employed, micro and small businesses (SMBs) during June 10-15 indicates that 88 per cent of the respondents have not yet availed the benefits of any of the stimulus packages announced by the government.

Concept :

  • Conducted by Chennai based Consortium of Indian Associations (CIA) and its 40 partner SMB associations, the survey found that 73 per cent of the SMB respondents did not make any profit during 2020-21. Over 81,000 SMBs participated in the survey.
  • The respondents included manufacturers (49 per cent), service providers (15 per cent), self-employed (14 per cent), and consultants, start-ups, traders, food and hospitality and others.
  • The CIA also proposed the government amend the Micro, Small and Medium Enterprises Development Act, 2006, to strengthen the state facilitation councils.
88% of SMB's yet to avail stimulus benefits economy