What measures have the Government taken to solve the problem of finance and marketing in the small scale sector?
Answers
Government has taken many measures and established various institutions and organisations to solve the problem of finance and marketing in the small scale sector.
1. In 1955 National Small Industries Corporation (NSIC) was set up to promote, aid and foster the growth of small business.
2. Small Industries Development Bank of India (SIDBI) as an apex bank was set up to provide direct and indirect financial assistance to small scale sector.
3. In 2004, Scheme of Fund for Regeneration of Traditional Industries was constituted to make traditional industries more productive through financial help.
4. The District Industries Center were established to provide financial and service support to entrepreneurs for establishing small industries.
5. NABARD besides agriculture, was also set up to support small, cottage and village industries.