Date:06/09/2005 URL: http://www.thehindubusinessline.com/2005/09/06/stories/2005090603140900.htm

Back Draft SME Bill to be passed in next Parliament session

Our Bureau

Coimbatore , Sept. 5

THE draft Bill on small and medium enterprises (SMEs) will be passed during the next session of Parliament, according to the Union Finance Minister, Mr P. Chidambaram.

The report from the Cabinet Committee on the SME Bill has been forwarded to the Government.

Talking to newspersons here at the sidelines of the launch of the SME Rating Agency of India on Monday, he revealed the Government's intent on revamping the role of the Small Industries Development Bank of India (SIDBI) that has presented to the Government a new business model.

"It is felt that SIDBI's current business model is flawed. The proposal on the new business model has been received and it is on my table,'' Mr Chidambaram said without indicating when the Government would initiate its move on this.