Finance minister has announced several measures to provide some relief to Micro,Small and Medium Enterprises(MSMEs) sector. Finance Minister has announced that all pending Goods and Services tax(GST) dues for the MSME sector shall be cleared within 30 days.In the future,all such dues would be cleared within 60 days of application. Further,the banks will issue improved… Continue reading Sitharaman gives MSME sector a breather
Tag: MSME
Plastics industry seeks export schemes, tax benefits for MSMEs
All India Plastics Manufacturers’ Association(AIPMA) has said that plastics industry is under severe stress due to environmental challenges. They have asked the government for export promotion schemes for Micro,Small, Medium Enterprises(MSMEs) in the plastic sector and removal of anti-dumping duty on machines not made in India. The industry has sought allocation of 25% of the… Continue reading Plastics industry seeks export schemes, tax benefits for MSMEs
Affordable housing gets a ₹10,000-crore booster
The National Housing Bank(NHB) has decided to infuse an additional Rs 10,000 crore into housing finance companies(HFCs) to improve liquidity in the sector. This move would enable the HFCs to provide individual loans for affordable housing. The government has also approved the budget proposal on one-time partial credit guarantee to public sector banks for purchase… Continue reading Affordable housing gets a ₹10,000-crore booster
International Cooperation Scheme
The Ministry of Micro,Small and Medium Enterprises (MSME) is implementing International Cooperation(IC) Scheme. The objectives of the scheme are (a)technology infusion and upgradation of Indian MSMEs (b)modernisation of MSMEs and (c)promotion of the exports of MSMEs. The scheme can be availed by (a)Central or State Government Organisations (b)Enterprise of Industry Associations and (c)registered societies or… Continue reading International Cooperation Scheme
Budget Briefs: A shot in the arm for struggling MSMEs
Presenting the Budget 2019-20,the finance minister has unveiled a slew of initiatives and new provisions to tackle issues related to the Micro, Small and Medium Enterprises(MSME) sector in the country. The Finance Minister has announced that Rs 350 Crore will be allocated for 2% interest subvention for all GST registered MSMEs on fresh and incremental… Continue reading Budget Briefs: A shot in the arm for struggling MSMEs
Shri Nitin Gadkari expresses commitment to raise MSME’s contribution to GDP to 50 percent
The Ministry of Micro Small and Medium Enterprises(MSME) has organised an international SME convention in New Delhi to observe International MSME Day. The theme of the convention is “Indian MSMEs,Global Aspirations”.The first convention was held in April 2018.The convention is organised in association with India SME Forum. The objectives of the Convention were(a)To boost the… Continue reading Shri Nitin Gadkari expresses commitment to raise MSME’s contribution to GDP to 50 percent
Sinha-led panel proposes ₹5,000 crore stressed asset fund for MSMEs
A Reserve Bank of India(RBI) expert committee tasked with reviewing the current framework for the micro,small and medium enterprises (MSMEs) has submitted its report. The committee has recommended a ₹5,000 crore distressed asset fund for micro,small and medium enterprises (MSMEs). The fund will assist units in a cluster where there is a change in the… Continue reading Sinha-led panel proposes ₹5,000 crore stressed asset fund for MSMEs
RBI panel on MSMEs suggests Rs 20 lakh collateral-free loan under Mudra
A Reserve Bank of India(RBI) expert committee tasked with reviewing the current framework for the micro,small and medium enterprises (MSMEs) has submitted its report. The panel has recommended doubling the cap on collateral-free loans to Rs 20 lakh from the current Rs 10 lakh.This will be extended to borrowers falling under the Mudra scheme,self-help groups… Continue reading RBI panel on MSMEs suggests Rs 20 lakh collateral-free loan under Mudra
Poised for Growth- The MSME Sector at a Glance
Minister of Micro, Small and Medium Enterprises (MSME) has said that in order to give a boost to the MSME sector, the Ministry would identify goods being imported by India and evaluate those that could be manufactured locally by MSMEs. The Micro- Small and Medium Enterprises (MSMEs) are small sized entities, defined in terms of… Continue reading Poised for Growth- The MSME Sector at a Glance
NSIC signs MOU with Ministry of MSME
The National Small Industries Corporation Limited(NSIC) has signed an MoU with Ministry of Micro, Small and Medium Enterprises for the year 2019-20. The MoU envisages provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs in the country. Under the scheme of National SC-ST Hub,implemented by NSIC… Continue reading NSIC signs MOU with Ministry of MSME
