NEW DELHI : Former Finance Secretary Subhash Chandra Garg has said the unavailability of data is the main reason why the government has not been able to announce a stimulus package for coronavirus-stricken businesses, including MSMEs.
Garg, in a blog post, said there is an urgent need to assign a unique ID to each business as it would help in collecting vital economic performance data and facilitate linking of all bank accounts of a business to that ID. "Principal reason for inability of the government to announce any survival and revival package, even for MSMEs, is the unavailability of business, value-added, number of labours employed, loss of output and profit data.