Page 16 - Msme Sector

Door open for stimulus 6.0; govt with industry: FM Nirmala Sitharaman

Calling her stint as FM during the pandemic "the most challenging assignment yet", Sitharaman said she was not upset with the criticism that the recent stimulus package was too little

Govt to further revise criteria for MSME definition, says Nitin Gadkari

Unveiling the contours of the Rs 20-trillion stimulus package, Finance Minister Nirmala Sitharaman had last last week announced a change in the definition of MSMEs

Fiscal stimulus by FM is mostly credit oriented, says Subhash Chandra Garg

He said that the fiscal stimulus, by its very nature, is additional fiscal burden on the public finances

Relief to SBI on the cards; investors should await clarity on asset quality

Relaxation in the two segments is positive of asset quality recovery, but investors should await clarity from post-results commentary

Stimulus 2.0: Banks will monitor solvency, guarantees cool credit risk fear

While the issue of providing liquidity to existing borrowers who are sapped of revenues has been addressed, banks will have to undertake due diligence on the solvency of units, said bankers.

Centre looks to nudge more MSMEs into manufacturing to reduce imports

Sources across ministries confirmed that Narendra Modi's call to "go vocal for local" will be achieved through a host of measures, running into the dozens, and will focus on long-term goals.

Fiscal stimulus 2.0: No global firms in govt tenders below Rs 200 crore

For this purpose, the general financial rules (GFR) will be amended to disallow global tender enquiries.

Covid-19 package has nothing for poor, hungry migrant workers: Chidambaram

"Except for the modest MSME package, we are disappointed with today's announcements," he said.

Tax break to provident fund: What stimulus has for you and economy

Government support in the form of 12% employer and 12% employee contribution extended for another three months - June, July and August

PM Modi announces Rs 20 trillion stimulus package to jump-start economy

'Self-reliant India' package is around 10% of GDP; lockdown 4.0 is on with new guidelines

Haryana allows select firms to deploy 100% workforce in multiple shifts

Auto component major Sona Comstar, which earlier could deploy only half of its workers, has been allowed to bring in its entire workforce at its four plants - three in Gurugram and one in Manesar.

IT firms form teams to chase revenue streams emerging from Covid-19 crisis

Industry observers said the high level of virtualisation across most sectors has led to increased demand for various IT services.

Centre may extend lockdown beyond May 17 with easier norms for business

PM assures resumption of more economic activities; zone identification may be left to states

Coaching classes take online route amid Covid-19 spread: CRISIL SME Tracker

CRISIL's interactions show that most players, even SMEs, have managed to reach students amid the lockdown by switching to online channels.

Some MSMEs may need deep restructuring, not just liquidity: Union Bank

Bank chief Rajkiran Rai says IBA has taken up the issue of restructuring with RBI

MSME sector's bad loan ratio at 12.5% as of January, shows report

NPA level of public sector banks has increased from 18 per cent in December 2018 to 19 per cent in December 2019

Lockdown 3.0: Rural India may drive demand recovery amid Covid-19 crisis

Top executives at auto, tractor and consumer packaged goods firms are optimistic. They are betting on the reverse migration of labourers boosting consumption and prediction of a favourable monsoon.

Govt working on financial package for all sectors amid Covid outbreak

Union Minister for MSME and Road Transport and Highways Nitin Gadkari said "a package is going to be declared".

Govt mulling introduction of import substitution policy, says Gadkari

The Minister for MSME and Road Transport and Highways said a policy on import substitution is being thought of in the wake of the economic situation created by the COVID-19 pandemic.

West Bengal's SLBC to increase rural loans from Rs 4400 cr to Rs 10000 cr

In addition, West Bengal will also request the Reserve Bank of India (RBI) to increase the additional credit limit to MSMEs, to 30 per cent from the existing 10 per cent.