Micro, small and medium enterprises need more cash flow under GST

Micro, small and medium enterprises, or MSMEs, are the engines of growth for the developing economies of the world. In India, MSMEs contribute 45 percent of industrial output and 40 percent of export and employ nearly 42 million people, second only to the agriculture sector. There are around 35 million SMEs across the country. I foresee working capital management to be a greater issue for MSMEs in…