- The Economic Times Rise
A case for better tax-policies for MSMEs
Economies across the world came to a standstill over the last one year as a result of the pandemic, and subsequent lockdowns.
There is no denying that one of the worst hit businesses during these challenging times were the micro, small and medium enterprises (MSMEs), especially in India.
The sector saw shuttered factories, kirana stores, retail shops, and experienced a strong decline in retail consumption.
With negligible demand and scarcity of revenue, MSMEs were left with meagre prospects to sell goods and services physically.
In the face of disrupted retail, e-commerce saw a splurge in online customer base and acted as a baton for the hard-hit MSMEs, aiding them to revive their sales and businesses.