Turning jobseekers into job-givers is an important goal of the government and many steps have been taken in recent years to achieve this objective, said Chief Economic Adviser V Anantha Nageswaran. “It relieves pressure on the job market. In terms of financing, the credit guarantee scheme that was launched during Covid, and continued until this … Read more
On International MSME Day (June 27), several memoranda of understanding (MoU) are set to be signed to attract investments to the tune of over ₹1,723 crore in the presence of Tamil Nadu Chief Minister. In an event scheduled in Chennai on Tuesday morning, an MoU between FaMe TN (Facilitating MSMEs of Tamil Nadu) and the … Read more
“In the past 5 years — 72 percent MSMEs which provide 12 Crore Jobs saw Zero growth. In 2.5 years — PM’s ‘param mitr’ who provides only 30,000 jobs, saw wealth grow by 13 times,” Congress President Mallikarjun Kharge said. File | Photo Credit: R.V. Moorthy The Congress on Friday accused the Modi government of benefitting … Read more
In a relief to micro, small and medium enterprise (MSME) suppliers, the penalties imposed on them for failure to execute contracts will be reimbursed and a mechanism to settle contractual disputes of the government will be put in place. The budget has also paved the way for easier flow of collateral-free funds, lower cost of … Read more
The UP government is expediting efforts to boost international reach of its flagship One District One Product (ODOP) scheme that has come to occupy a lion’s share in the state’s exports as it also eyes a larger target of reaching $1 trillion economy size over the next five years. The scheme promotes traditional industries in … Read more
There is a huge corpus of work emphasizing the importance of formalization and the persistence of informality in the economy. Representing a major feature of labour markets worldwide, the informal sector consists of activities operating outside the regulatory framework that would potentially add value to tax revenue and the GDP but go unaccounted. A recent … Read more
In recent years, the Ease of Doing Business reforms’ emphasis on strengthening the MSME ecosystem in India has been evident. The government has rolled out a range of initiatives aimed at facilitating business for the sector. India Budget 2022-23 laid out an extension in the Emergency Credit Line Guarantee Scheme (ECLGS) with an expanded guarantee … Read more
The Parliamentary standing committee on finance has pitched for providing a credit card to MSME entrepreneurs on the lines of Kisan credit cards, putting in place a mechanism for payment scores and a significant ramp up of SIDBI to ensure access to regular credit to small businesses. Former minister of state for finance and chairman … Read more
Small and medium enterprises (MSMEs) in western UP say they have had a “mixed experience” under the current BJP government. Although they are on the same page as far as the improved law and order situation in the region is concerned, they felt that when it comes to growth of businesses and their grievances being … Read more
On the eve of the budget, the big announcement of last year’s budget of establishing a National Asset Reconstruction Company (NARCL) is yet to be implemented due to procedural logjam. The ask in this budget is to introduce amendments to Insolvency and Bankruptcy Code (IBC Code) that are amenable to implementation and help the common … Read more