Entrepreneurs, SMEs, and MSMEs also struggle due to factors arising from GST
By SONICA ARON
Founder and CEO Marching Sheep.
The middle class in India is grappling with high living costs, inflation, meagre increments, and job insecurity exacerbated by global uncertainties.
This significant category in the working community requires immediate help, as they are battling financial tension. The tax brackets and exemptions especially for single-earning families managing the escalating school fees and medical bills require an urgent revision.
Entrepreneurs, SMEs, and MSMEs also struggle due to factors arising from GST as well as a bottleneck on cash flows caused by delayed payments.
Even after a 45-day payment mandate for registered MSMEs, there are long delays, pushing companies to prioritise relationships over justice leading to financial losses. Addressing these systemic issues is important for economic stabilization and fostering growth across sectors.
