Uttar Pradesh’s ‘One District One Product’ (ODOP) programme will aid in effective identification of “champion sectors” amongst MSMEs under the ‘Ubharte Sitaare Fund’, union finance minister Nirmala Sitharaman said on Saturday as she launched the “ambitious” alternate investment fund for MSMEs in the state capital. The fund, co-sponsored by Exim Bank and Sidbi, was formed … Read more
Following this, CHATT’s founding members conveyed optimism about ‘filling the missing pieces of tech, innovation in the travel, tourism and hospitality industry’ while ‘promoting interests of small enterprises’ and ‘leveraging digital initiatives.’ (Image: Kerala Tourism handle on Twitter) CHATT: Big boost for domestic tourism! Yes, today’s story is about an exciting collaboration in India’s travel … Read more
Industry body FISME on Tuesday suggested the central and state governments that MSMEs be allowed to do home delivery of products during the lockdown hours to help the sector grow during the COVID-19 crisis. It said India is home to about 6.3 crore micro, small and medium enterprises (MSMEs) which form the backbone of the … Read more
Rohit Kapoor, CEO – India & South Asia, OYO Indian Union Budget 2021-22: Economic recovery on track! The country’s tourism and hospitality industry had pinned great expectations on Budget 2021. While no specific relief or proposals have been immediately announced, there are several reasons to look at the futuristic impact that can definitely boost the … Read more
New Delhi: Union Minister Nitin Gadkari will on Thursday inaugurate and lay foundation stones for highway projects worth Rs 8,341 crore in Rajasthan, an official statement said. These projects are for a total length of 1,127 kms. “Union Minister for Road Transport, Highways and MSMEs Nitin Gadkari will inaugurate and lay foundation stone for 18 … Read more
Over 11 lakh MSMEs have registered on the new online system of Udyam Registration launched in July, the government said on Saturday. Out of these, 3.72 lakh enterprises have registered under manufacturing category whereas 6.31 lakh enterprises under service sector. The share of micro enterprises is 93.17 per cent whereas small and medium enterprises are … Read more
The Rs 73,000 crore to ‘stimulate’ consumer spending announced on Monday is even more unfortunate. Synopsis Instead, it has played it safe by accepting RBI’s decisions to address the stress caused by the pandemic, in the hope that it will find favour with the Supreme Court. RBI’s recent Covid-19 resolution framework (RF) allows for one-time … Read more
By Partha Chatterjee That the Indian economy is in bad shape was known, the extent was revealed by the announcement that Indian GDP contracted by 23.9% in Q1 of FY 2020-21. The impact is being felt by every segment, across the length and the breadth of the country. However, the most impacted are probably the … Read more
Lockdown salary payment outcomes suggest formal enterprises are more resilient than informal enterprises. Synopsis There are three lessons for reforming our dysfunctional labour laws. One, any change must be balanced. Two, any change needs evidence. Three, any change needs openness. India’s labour laws are neither prolabour nor pro-employer. They are pro-labour inspector. So, why don’t … Read more
KOLKATA: Banks in West Bengal have sanctioned Rs 5,350 crore of loans till the last week of August to businesses to tide over liquidity woes amid the COVID-19 crisis, an official said on Friday. Public and private sector lenders have sanctioned the loans under the Centre’s Emergency Credit Line Guarantee Scheme (ECLGS). At the national … Read more