Jul 30, 2021 06:44 PM IST
The MSME sector is the second-largest employment creator, providing employment to an estimated 11 crore people. It contributes to 30 percent of the GDP and accounts for 48 percent exports. Still, the existing PLI schemes are meant only for the corporates, they say. If govt wants self-reliance in manufacturing, it is a must, they argue.
- Jul 29, 2021 08:06 PM IST
Listed SMEs and startups will become globally competitive and offer a significant contribution to India's economic development and job creation, say experts.
- Jul 29, 2021 07:00 PM IST
The bill proposes a separate resolution process for insolvent small businesses, allowing them to initiate the proceedings and quicker settlement process.
- Jul 28, 2021 01:20 PM IST
Measures to bolster demand, investments, exports and employment generation are needed to help the economy, including micro, small and medium enterprises, to recover from the pandemic fallout, the committee said.
- Jul 27, 2021 02:30 PM IST
FM Nirmala Sitharaman told parliament she is personally monitoring the clearance of delayed payments to MSMEs for purchases by the Central government, public sector undertakings and central departments
- Jul 23, 2021 07:41 PM IST
The scheme primarily focuses on generating self-employment opportunities through micro-enterprise establishments in the non-farm sector thereby helping the unemployed youth.
- Jul 22, 2021 08:12 PM IST
As per the revised guidelines, retail and wholesale trade, earlier left out of the ambit of MSME will now get the benefit of priority sector lending (PSL) under RBI guidelines.
- Jul 22, 2021 02:57 PM IST
MSME minister Narayan Rane also said that till July 2, Rs 2.73 lakh crore have been sanctioned under the Emergency Credit Line Guarantee Scheme.
- Jul 21, 2021 06:05 PM IST
The proposed Factoring Regulation (Amendment) Bill, 2020, is expected to increase competition in the business of factoring, in which companies can get immediate cash by selling their receivables at a discount.
- Jul 21, 2021 04:07 PM IST
The loan amount can range between Rs 50 lakh and Rs 2.5 crore, which will be offered at an interest rate starting from 8 percent with a maximum tenure of 120 months.
- Jul 16, 2021 05:30 PM IST
Barely 5 percent of small businesses take insurance cover because most of them opt for it only when a lender demands it. This makes MSMEs more vulnerable to uncertainties.
- Jul 13, 2021 03:14 PM IST
Without much publicity, the government has made a major move to break out of the chronic cycle of low working capital that plagues Indian exporters. The proposed International Trade Finance Services platforms will be a major boost to exporters.
- Jul 13, 2021 10:17 AM IST
In an exclusive interview with Moneycontrol, Principal Economic Advisor Sanjeev Sanyal said that the government is closely monitoring high-frequency data, and will have greater clarity on the trajectory of the economy, post the second wave of COVID-19, within weeks. It is then that a decision to provide further support could be taken.
- Jul 08, 2021 03:07 PM IST
Though the MSME sector is said to be the second-largest employment creator after agriculture, unskilled workforce and lack of technology have been the bane of the sector. Also, banks are unwilling to lend to the sector fearing that loans will turn NPAs
- Jul 07, 2021 09:15 PM IST
As per the existing definition of MSMEs, enterprises in the manufacturing and service categories are considered to be MSMEs.
- Jul 03, 2021 03:31 PM IST
Moneycontrol explains what is the present definition of MSMEs, when was wholesale and retail trade removed as MSMEs, what benefits will the trades get now and what are some of the concerns raised by the industry associations.
- Jul 02, 2021 02:18 PM IST
The government in June 2017 removed retail and wholesale traders from the MSME category
- Jul 01, 2021 08:43 PM IST
The extension takes effect from July 1, 2021, and ends on September 30, 2021, covering three months.
- Jun 30, 2021 03:48 PM IST
The move would provide credibility to small industries and facilitate loans for them from banks and abroad, making them attractive in the export market, say associations and sector experts.
- Jun 29, 2021 09:18 PM IST
Sitharaman further urged the ministries to explore Public Private Partnership (PPP) mode for viable projects, the finance ministry said in a statement.
- Jun 29, 2021 02:18 PM IST
MSMEs have been receiving capacity-building support through Walmart Vriddhi since the start of the pandemic, helping them grow to new markets through Flipkart and Walmart channels and the open marketplace, Nidhi Munjal, Vice President of International Partnership Services at Walmart, said, in a release here Tuesday.
- Jun 29, 2021 02:08 PM IST
Four of the eight announcements by the Finance Minister were new and the other four were extension of existing schemes. According to analysts, the stock market is likely to react positively as the steps will help economic recovery, with limited fiscal cost.
- Jun 28, 2021 06:58 PM IST
Microfinance lenders and sector analysts welcomed the move to increase the outlay for credit guarantee schemes and facilitate lending to bottom-of-the-pyramid borrowers. However, there still remains room to do more, they said.
- Jun 28, 2021 04:06 PM IST
There is potential for growth in sectors like shipping and biofuel industries, and banks should design products for such businesses, Gadkari said.
- Jun 27, 2021 10:09 AM IST
These state governments plan to suggest strong safeguard measures in the proposed rules to ensure that any changes in the Consumer Protection (E-Commerce) Rules, 2020 do not hamper their economic growth engines and revenue collections, officials from those states said.