Union Budget 2023: The government has also decided to establish a National Financial Information Registry to promote financial stability and an effective flow of credit.
With organizations embracing the new normalcy post covid, professionals continue to consider flexibility, work-life balance and upskilling as the key focus areas, even more so at present. These new trends have led to a massive transformation in the workforce.
Odisha Industrial Infrastructure Development Corporation (IDCO) has been given more than Rs 450 crore to develop the required infrastructure in the districts for the purpose, he said at the concluding session of Propack Odisha 2022 and MSME Odisha 2022 organised by Odisha Assembly of Small and Mediu
World MSME Day 2022. MSMEs have emerged as the second-largest employment generating sector after agriculture in India.
Introduction of digital currency, investments in the construction of roads, railways, airports, ports, 400 new Vande Bharat trains, rural housing, and no change in income-tax slabs were among key announcements. Let's take a look at what different businesses have to say post-budget announcement.
The project will provide business opportunities to various MSMEs and other defense industries for the supply of raw materials and components.
Under the scheme, 75 per cent of the cost of work received from Government Departments/ Agencies/ PSUs will be provided as a loan. Repayment will be depending on the duration of work and expected receipt of funds from the work awarding authority.
Prime Minister Narendra Modi on Saturday described as "landmark" the decision to include retail and wholesale trade as MSMEs.
Minister of MSME Nitin Gadkari informed that the government will now accord MSME status to retailers and wholesale traders.
The World Bank's Board of Executive Directors has approved a USD 500 million program to support India's nationwide initiative to revitalise the MSME sector
MSMEs are considered to be engines of economic growth that promote equitable development. Yet, several of these enterprises are struggling to make ends meet on account of the outbreak of the global pandemic and facing a lack of liquidity. This has made it necessary to restructure the ways by which micro, small and medium-sized companies can more easily rebuild and relaunch their businesses. Digital transformation can play a defining role here.
According to the ordinance, it is considered expedient to provide an efficient alternative insolvency resolution process for MSMEs to ensure quicker, cost-effective and value maximising outcomes for all stakeholders, in a manner that is least disruptive to the continuity of their businesses and which preserves jobs.
By offering a bundled connectivity plan at 1/10th the existing price (Rs 15-20K/month) in the market, Jio is looking to expand the addressable market in the MSME segment.
The MSME sector is hoping to get rid of challenges like lack of access to capital, infrastructure, skilled labor, and power supply issues.
The company expanded collateral-free loans of up to Rs 500,000 at a low-interest rate and unique daily EMI product customised for micro-merchants.
As of July 23, 2020, the total amount sanctioned under the 100 per cent Emergency Credit Line Guarantee Scheme by public sector banks and private banks stands at Rs 1,30,491.79 crore, of which Rs 82,065.01 crore has already been disbursed.
Profits derived from the exports of products by micro, small and medium enterprises (MSME) will be excluded from the overall turnover of a company, said Union Minister incharge of MSME sector Nitin Gadkari
State-owned Bank of Maharashtra on Sunday said it has sanctioned loans worth Rs 2,789 crore to MSME, self-help group, agricultural and retail borrowers to help them meet their liquidity mismatches caused due to coronavirus crisis.
Union Finance Minister Nirmala Sitharaman on Wednesday announced a series of relief measures spanning across the micro small and medium enterprise (MSME), power, real estate sectors, besides providing a slew of temporary changes to the direct tax collection rules.
Finance Minister Nirmala Sitharaman on Wednesday announced an economic relief package amid nationwide coronavirus lockdown in which her prime focus was on to save jobs in the MSME sector and help it to get back on track.
Top News
Latest News
