Small and Medium Enterprises Development Bill gets LS nod

New Delhi, May 18 (UNI) The Lok Sabha today approved the Small and Medium Enterprises Development Bill, 2005 with a voice vote with the hope of ushering in a new developmental era for this sector to meet the global challenges.

Replying on the Bill, Minister for Small Scale and Agro Rural Industries Mahavir Prasad said it was surprising that Mr Gurudas Dasgupta (CPI) while supporting the Bill criticised it as infructuous as it was not going to serve any perpose.

He said before giving a final shape to the Bill he held several round of meetings with Mr Dasgupta, and he had given his consent to it.

Mr Prasad said members have expressed their apprehension about the power, role and purpose of the proposed board under the Bill. He said the Bill would ensure that in the newly-constituted board there would be two members from the Lok Sabha and one from the Rajya Sabha to act as the eyes and ears of society. It would have the final power to recommend, Mr Prasad announced.

This move was appreciated by thumping of desks from all members of the House.

He said it would be endeavour of the Government to provide the necessary fillip to the domestic tiny, small and medium scale industries so that ''our domestic sector could become competitive with their counterparts in China and Japan''.

Earlier participating in the discussion on the Bill, Mr Dasgupta, while supporting the Bill, said it was infructuous and would serve no purpose. He said there was inherent contradiction as the Government which wants the tiny, small and medium sector to be competitive went on with the dereservation spree to see that a tiny sector could compete with a transnational company. He questioned how could it become possible. He said there was no provision of either easy loan or soft loan for these sectors nor any reference of any Central incentives than how could our entrepreneurs compete with the big global players.

Mr Ram Kripal Yadav (RJD), Mr B Mahatab (BJD), Mr Suresh Prabhu (SS) and Mr Ram Das Athwale (RPI-A) participated in the discussion.

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