Question of Existence: Liquidity, Solvency and Policy response for MSMEs
That the Indian economy is in bad shape was known, the extent was revealed by the announcement that Indian GDP contracted by 23.9% in Q1 of FY 2020-21. The impact is being felt by every segment, across the length and the breadth of the country. However, the most impacted are probably the medium, small and micro scale enterprises (MSME) which form the very fabric of the Indian economy. They contribute 29% of India’s GDP and employ 11.1 crore people (NSS 73rd round, 2015-16). #