Coimbatore , January 23 : Former Congress President Rahul Gandhi on Saturday said the major economic policies of the present National Democratic Alliance (NDA) government like Goods and Services Tax (GST) and demonetisation destroyed micro, small and medium enterprises (MSME) in the country.
"A massive crippling blow delivered to the economy was demonetisation. It devastated small and medium industries because you are dependent on the cash flow," said Gandhi while addressing a gathering of MSME representatives in Coimbatore. He also criticised the GST decision of the ruling government, saying, "It needs to be restructured, it needs to be conceptualised. The current regime imposes a huge load on smaller regional businesses. It is the commitment of the UPA (United Progressive Alliance) government that when we come to power, we will restructure the GST."
Gandhi said, earlier he had warned against the adverse effects of the pandemic on the Indian economy. "I said that the government needs to act on this upfront without delay. They ridiculed me saying I am fear-mongering."
He also added that the government gave loan waivers to the biggest industrialists, but the protection should have been given to MSMEs. He said without giving incentives to small-scale industries there is no way forward.
The Congress leader is on a three-day visit to the western belt in Tamil Nadu and will have interactions with farmers, weavers and the general public.He will also visit Tiruppur, Erode, Karur and Dindigul districts between January 23 to 25.