On Friday, the government reinstated retail and wholesale trade under the category of Micro, Small and Medium Enterprises(MSMEs) after 4 years, making such entities eligible for priority sector funding and special liquidity scheme from banks. According to MSME Minister Nitin Gadkari, this would benefit 2.5 crore enterprises across the nation.
This is a move in the right direction to uplift the MSME sector. It would help the retail and wholesale market to avail all the special benefit schemes provided by the government under the MSME Ministry and would thus lead to the much needed categorised formalisation of this sector.
Retailers and wholesalers have also been the backbone of our market economy. Ever since the onset of the pandemic, it took a hit just like any other anthropogenic activity. But Friday's path-breaking decision, which came as a boon for the owners of such enterprises, will ensure the revival of the stagnant retail and wholesale market.
Moreover, SalaryBook is one such mobile application that has been helping MSMEs(including the retailers and wholesale traders)ever since the beginning of the pandemic. SalaryBook offers a digital solution for employee management services. SalaryBook offers smart attendance management in one click. SalaryBook also helps owners in managing the expenses of their businesses with the use of SalaryBook’s exclusive payroll management interface. On top of these, SalaryBook is also providing employment or job opportunities to many on the job portal.
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