BUSINESS
Challenges confronting the boom in India’s initial public offerings
Capital markets have been an insignificant source of funding for the micro, medium and small enterprise (MSME) sector. The onset of the COVID-19 pandemic and a capital crunch faced by these companies are bringing about a change.
BUSINESS
Explained: Why GST on textiles, apparel is being changed; industry’s concerns
With the GST rate set to be harmonised across the textile chain, the move will impact manufacturers and consumers, coming on the back of the pandemic and higher raw material costs
BUSINESS
MSMEs fear harassment, misuse of power by officials under new GST regime
The rules were amended to empower GST officials to initiate recovery proceedings against businesses without providing a show-cause notice for any mismatches in forms GSTR-1 and GSTR-3B.
BUSINESS
Bad loans in Mudra scheme double as Covid19 hits MSMEs
The NPAs of small businesses against loans taken under PMMY, better known as the Mudra scheme, stood at Rs 34,090.34 crore in FY21, against Rs 17,712.63 crore in FY19.
BUSINESS
Budget 2022 : CIA bats for GST exemption, reclassification of NPA norms for MSMEs
While the recovery continues from two Covid shocks, the small business sector has also been severely hit due to the increased freight rates, high costs of raw materials and coal shortage.
BUSINESS
Budget 2022 : Assocham seeks review of FTA terms, increase in custom duty to support fruit based value chain
Assocham has sought reviewing the terms of the Free Trade Agreements (FTAs) and enhancement of the custom duties on import of fruit/vegetable pulps and concentrates to provide support to the Indian fruit based value chain.
BUSINESS
Budget 2022: MSMEs seeks amendment in IBC, restoration of interest-subvention scheme
Industry body FISME says MSMEs have been categorised as operational creditors, who rarely get their dues after the bankruptcy process.
BUSINESS
Severity of Covid19 disruptions on MSMEs understated
The government is understating the severity of the impact of COVID-19 on small businesses and underreporting the proportion of units that have shut down, representatives of these businesses have said.
BUSINESS
MSME exports drop for two years in a row, exporters positive on outlook
Small businesses were hit even before the pandemic struck due to the global slowdown. While MSME exporters are optimistic about this year, the new variant of the Covid-19 virus has them worried.
BUSINESS
MSME body AICA calls for closure of industries on Dec 20 to protest raw material price hikes
Raw material price increases go unchecked and are a matter of grave concern as they are affecting the production and working capitals of the MSMEs, said the industry body.
BUSINESS
High input cost of steel forces MSMEs to sell at loss
The steep hike in input costs is visible in the Wholesale Price Index (WPI)-based inflation, which scaled to a record 12-year high of 14.23 percent in November pushed by high prices of fuel, metals, food products and mineral oils.
BUSINESS
Why is there no Samadhaan for delayed payment to MSMEs?
According to the MSME Samadhaan portal, a portal to monitor delayed payments to MSME units, an estimated 97,359 cases involving a sum of Rs 25,553 crore have been filed by small businesses over delayed payments since its inception in October 2017.
BUSINESS
COVID-hit small businesses worried about impact of possible third wave
Uncertainty about the latest variant of the coronavirus has small businesses worried about lockdowns and the impact on their ability to compete in the export market and repay loans.
BUSINESS
Small businesses welcome plans for UPI-like digital platform for MSME lending
MSMEs face a huge credit gap—the World Bank pegs this at a collective $380 billion—even though they are entitled to bank finance under priority sector lending norms.
BUSINESS
EPFO wage subsidy scheme created 39.59 lakh jobs: MoS Labour & Employment
The Atmanirbhar Bharat Rozgar Yojana is aimed at encouraging firms to hire more and improving social security for job holders
SECTOR
Cases of delayed payments to MSEs reach 26,893 in 3 years, Narayan Rane tells House
The MSME minister noted that from FY20, some 6,159 cases have been disposed by MSEFCs, involving an amount of Rs 2,905.15 crore
BUSINESS
Q2 GDP data | Private consumption, government spending rise sharply
Private Final Consumption Expenditure (PFCE), which is a significant component of overall GDP numbers, rose by 8.61 percent as compared to Q2 FY21, and came in at Rs. 19.48 lakh crore.
BUSINESS
National Employment policy may have sector-specific job targets: Sources
The sector-wise strategy is aimed at improving the potential of job creation by drawing investments to employment-intensive sectors, policy interventions and attracting new industries by creating an enabling environment.
BUSINESS
Government to link e-Shram with Unnati job portal for blue, grey collar workforce: Sources
According to the official, Unnati would be accessible to both employers and prospective employees for work involving physical labour. It serves as a platform for workers to be visible and for employers to hire the people of their choice.
BUSINESS
GST hike on textile, footwear to negatively impact working capital of MSMEs: Experts
The Finance Ministry on November 18 notified a 7 percent increase in GST applicable on finished products such as apparel, textiles and footwear from 5 percent to 12 percent, effective January 2022.
BUSINESS
MSME associations welcome the launch of tech upgradation scheme
One of the pressing issues that is impeding the growth of MSMEs in India is the lack of modern technology and equipment, thus making the small businesses unattractive in the export market, say industry officials and trade bodies.
BUSINESS
Ministries of Agriculture, Commerce, Skill Development may be part of NEP panel
The committee will also include representatives of the labour ministry and other ministries and academia besides notable people from industry.
BUSINESS
EPFO Board to meet today: Key things to watch out for
The board may discuss widening its investment option, an increase in minimum pension and the interest rate to be offered for this financial year.
ECONOMY
Farm laws fiasco: Much ado about nothing or a lost opportunity?
Farmer unions might press for statutory guarantee of remunerative prices for all agricultural produce and for all cultivators.
