No budget is complete without mentioning MSMEs in it. Industry stakeholders are expecting a lot from this Union Budget and here is what they want for the growth of the MSMEs in India
Ease of Doing Business for MSMEs: Credit availability to MSMEs remained the centerpiece in the announcements related to the MSME sector by Finance Minister Nirmala Sitharaman in her budget presentation on Tuesday.
Finance Minister Nirmala Sitharaman on Tuesday announced the extension of the emergency credit line guarantee scheme (ECLGS) by another year and expanded the guarantee cover by another Rs 50,000 crore specifically targeted at the crippled hospitality sector.
The Union Budget overall looks positive and is focussed on an economic recovery mindset, with the pandemic and its repercussions as its premise,s said fintech sector and those in the finance sector. It is a growth-oriented budget offering a slew of measures to drive consumption, investment, and economic revival in the aftermath of the pandemic,
Ease of Doing Business for MSMEs: With access to more credit in the coming financial year, the government sees better recovery for MSMEs from the pandemic impact along with more employment generation through digital channels.
The ECLGS was announced as one of the key components of the Rs 2 trillion economic stimulus package under the ‘Aatmanirbhar Bharat Abhiyan’ in May 2020. It offers additional working capital finance in the form of a term loan to MSMEs and professionals.
Finance Minister Nirmala Sitharaman presented Union Budget 2022 on Tuesday, which touched upon all aspects of the economy — from infrastructure development, education initiatives, to instituting the National Tele-Mental Health programme.
“Budget 2022 brings a sense of optimism and reflects the government’s continued focus on ‘Make in India’, decreasing the dependency on imports. Duty concessions to promote electronic manufacturing will help the industry sustain itself while recovering from the challenges of the pandemic.
Finance Minister Nirmala Sitharaman Tuesday announced the extension of the emergency credit line guarantee scheme (ECLGS) by another year and cast the safety net wider, giving lenders sufficient comfort to boost credit flows to sectors battered by the pandemic.
The 2022-23 budget finely balanced fiscal retreat with supporting economic recovery. The budget focussed on a familiar strategy of driving capital expenditure to drive growth, with the intention of crowding in private investment through higher public spending.
Finance Minister Nirmala Sitharaman has announced the Budget 2022, and there has been mixed reactions to it. We covered the budget announcements via live blog, and highlighted the top 5 announcements that every entrepreneur should be aware of. Let’s find out how India’s top entrepreneurs & CEOs have reacted to the budget announcements, right here!
No budget is complete without mentioning MSMEs in it. Industry stakeholders are expecting a lot from this Union Budget and here is what they want for the growth of the MSMEs in India Last year, in the budget for 2021-22, a number of steps were taken to support the MSME sector, and the government allocated
Currently, India is emerging as a global innovation hub where Startups have created over 6 lakh jobs since 2016. Around 45% of the start-ups are from Tier-2 and Tier-3 cities with approximately 45% amongst them are represented by women entrepreneurs.
With the prominence of the ‘Digital India’ initiative, digital/online transactions have become mandatory and are widely used across all sectors. People have been well-acquainted with popular digital transaction methods like bank transfers, credit or debit cards, Google Pay, etc. However, the emerging and one-of-a-kind addition to the entire digital transaction spectrum is Cryptocurrency.
The eMSME has been a key observant in the MSME space for the last few years, thanks to its domain experts. eMSME believes that operating with limited resources and a lean team is typical in the start-up space.
AJVA Fintech, an end-to-end solutions provider of MSME services has announced the launch of the MSME scheme discovery platform called “eMSME Saarthi”. As per the company, the platform will bring a developmental change in providing transparency to all the Micro, Small and Medium enterprises in disseminating information about government schemes.
eMSME Saarthi has a very important functionality called “Regulatory Health Check”, to make MSMEs more structured and know whether they have all the licenses and registration required for their business category.
The Ministry of Women and Child Development on Thursday issued detailed guidelines for PM CARES for Children, a scheme that lends support to kids who were orphaned during the covid-19 pandemic.
The objective of the scheme, which was announced by Prime Minister Narendra Modi on 29 May, is to ensure comprehensive care and protection of children who lost their parent(s) to the pandemic, enable their wellbeing through health insurance, empower them through education and equip them for self-sufficient existence with financial support on reaching 23 years of age.
As many as five million Micro, Small and Medium Enterprises (MSMEs) have registered on the Udyam portal and the industry should promote registrations on the portal, a senior government official said on Wednesday. The objective of the portal is to provide
Global FinTech Market was valued at USD7301.78 billion in 2020 and is expected to grow at a CAGR of 26.87% during the forecast period on account of the increasing popularity of digital payments, the increasing investments in Al…
Higher e-way bills generation is reflected in higher GST revenues. GST collections came in at Rs 1.17 lakh crore in September (largely August transactions), up 23% year-on-year and 4.5% month-on-month.
E-way bill generation for goods transportation under the Goods …
The 24 industrial clusters, which have been notified in batches since 2005, operate in areas that are part of rural villages (non-conforming areas)
The Delhi government has decided to extend the deadline for submitting layouts for redevelopment of 24 industrial clusters in non-conforming areas (villages) in the Capital till June 30, 2022. But the issue of who will prepare the layouts has been hanging in the balance for over a decade.
The decision to extend the deadline was taken in a meeting chaired by state industries minister Satyender Jain, where representatives of the 24 industrial clusters and officials of the Delhi State Industrial and Infrastructure Development Corporation (DSIIDC) were also in attendance.
Credit and Finance for MSMEs: The scheme’s purpose was to provide guarantee coverage for CGSSD to offer subordinate debt support with respect to the restructuring of stressed MSMEs viz. SMA-2 and NPA accounts…
NEW DELHI: India digital court, developed by Jupitice Justice Technologies, has now come up with a MSME court to resolve the rising disputes in this sector.
Considered as the accelerator…
In order to support Covid-hit MSMEs further, Centre on Wednesday announced an extension of its Emergency Credit Line Guarantee Scheme (ECLGS) till 31 March, 2022, or till guarantees for an amount of ₹4.5 lakh crore are issued under the scheme, whichever is earlier.
The Ministry of Finance also announced that the date of disbursement under the scheme has also been extended to 30 June, 2022.
‘Government has been receiving demands from various Industry bodies and other stakeholders to extend the scheme to ensure continued support to eligible sectors/businesses,” the ministry said in a statement.
Trade, import, and export for MSMEs: The Commerce Ministry on Wednesday had approved a capital infusion of Rs 4,400 crore into the state-owned ECGC over a five-year period from FY22 to FY26 to boost exports.
The United Nations commemorates 27th June as World Micro, Small and Medium Enterprises (MSMEs) Day. MSMEs continue to be heavily impacted by the….
NEW DELHI: An industry body representing micro, small and medium enterprises has written to the Reserve Bank of India seeking to defer payment of instalments of emergency loans…
NEW DELHI: Helping banks, financial institutions and non-bank finance companies (NBFCs) to better assess micro, small and medium enterprise (MSMEs) for credit solutions…