MSMEs in COVID-19 Crisis and India’s Economic Relief Package: A Critical Review (original) (raw)
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MSME is the pillar of Indian economy. It is the largest job provider sector and contributes nearly 40% of national GDP. The Covid-19 Pandemic outbreak impact is very adverse on the economies of many countries across the world including India. Much like others, this pandemic has severely affected the Micro, Small & Medium Size Enterprises(MSME)in the country. The survey results indicate that the MSME sector is facing the challenge of survival and sustenance. Being a crucial sector of the economy impact on MSME will have a proportionate impact on the national economy. Hence, quick and decisive intervention of the Govt. is expected to enable this sector whether the storm. Towards this direction, it is essential to ascertain Covid-19 pandemic impact on Indian MSME sector so that an effective policy measures may be designed by the government machinery. This paper is an attempt in that direction. This research work is an exploratory study wherein a comprehensive review of available online literature was conducted. Thereafter, to add empirical evidence a survey of 519 MSMEs across the country was conducted through online mode. At the end, this paper suggests some policy measures which may help this crucial sector to face the crisis.
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