PAC to lower interest rates on loans to MSMEs
The Public Accounts Committee (PAC) called on the Department of Financial Services and commercial banks to charge “uniform and lowest possible” interest rates to help MSMEs. In a report tabled in Parliament on the Prime Minister’s Job Creation Program (PMEGP), the panel also suggested that the MSME ministry take a proactive role to ensure that the program runs smoothly.
In another report, the panel criticized NITI Aayog for the delay in preparing a roadmap with defined milestones aligned with the “Sustainable Development Goals”. Reminding NITI Aayog of India’s commitment to SDGs at the United Nations, the panel said the delay could affect the country’s good reputation in pursuing sustainability goals.
Role of NITI Aayog in the SDGs
“The Committee therefore urged NITI Aayog to take appropriate measures to compensate for the delay in action. In addition, it was felt that it might be better to clearly specify the role of NITI Aayog in the implementation of the SDGs in the allocation of trade rules, ”he said.
The panel also noted that public awareness efforts on the SDGs in seven states have not been comprehensive, focused and sustained. The panel demanded more effective communication campaigns tailored to the context, language, values and resources accessible to stakeholders and local audiences.
“After noting that the public awareness programs undertaken being moderate in nature, do not appear to be very effective in terms of awareness raising, the Committee wished that NITI Aayog had an interactive web page to reach States and the general public,” said The report.