Over the past few years, the micro, small and medium enterprises (MSME) sector has been badly affected by a number of disruptive events. From demonetisation to the transition to the goods and services tax to the Covid pandemic, MSMEs have borne the brunt of the disruption in economic activities during each of these periods. Micro, small and medium enterprises also suffer delayed payment, with micro enterprises being the biggest sufferers. Ironically, the Government is fully cognisant of this issue and has issued many policy directives to help the sector. However, like much else in our country, it is the implementation that fails us.

Several micro enterprises have folded due to the shock of the above events and many more may follow suit. Hopefully, overall economic growth will usher in cross-sectoral boost to business and help MSMEs overcome the challenges, which the government could not (despite their good intentions).