Page 6 - Msme

Archaic laws need to be reviewed keeping in mind recent changes: DFS Secy

Joshi explained the intention behind the Budget proposals for the financial sector

Credit guarantee to Rs 20 lakh Mudra loan: FM on MSMEs in Budget 2024

Union Budget 2024-25: Finance Minister Nirmala Sitharaman announced the continuation of bank credit to micro, small, and medium enterprises (MSMEs) during stress periods

Threshold-based relief for MSMEs must have sunset clauses: Economic Survey

A small enterprise is where the investment in plant and machinery or equipment does not exceed Rs 10 crore, and turnover does not exceed Rs 50 crore

Around 8 million jobs created under the PMEGP, says MSME ministry

The reply in the Parliament further maintained that under PMEGP, there is no specific target set for women entrepreneurs

MP receives investment proposals worth Rs 17,000 crore at RIC Jabalpur

MoU to boost defence production in the state signed; proposals worth more than Rs 5,000 crore given by some 1,500 units of the MSME sector

Income tax rate cut, sops for PSUs: Brokerage expectations from budget 2024

Expectations (as measured by pre-budget equity market performance), wrote analysts at Morgan Stanley in a note, are important in determining what the market does immediately after the budget

Budget 2024: MSME sector eyes double loan limit under MUDRA to Rs 20 lakh

The finance ministry in the forthcoming Union Budget needs to double the loan limit to Rs 20 lakh under the MUDRA Yojana, and expand the credit guarantee cover for unsecured loans for MSMEs from Rs 2 crore to Rs 5 crore. MSMEs also want incentives from the government to help them sell products globally. Finance Minister Nirmala Sitharaman will present the Union Budget for the current fiscal on July 23 in the Lok Sabha. On expectations from the Budget, Navin Saini, chief business officer (Retail & MSME), Arka Fincap said the government will continue its agenda to provide a strong foundation for MSMEs, bolstering their growth. "To achieve this, they should consider increasing the loan limit of the Pradhan Mantri MUDRA Yojana (PMMY) scheme from Rs 10 lakh to Rs 20 lakh and expanding the credit guarantee cover for unsecured loans for MSMEs from Rs 2 crore to Rs 5 crore. "These measures will provide MSMEs with greater access to necessary financial resources, enabling them to thrive and

MSMEs urge RBI to allow P2P lending, crowdfunding to overcome credit gaps

Cite examples of other countries' regulatory frameworks for crowdfunding

Industry body urges FM Sitharaman to continue 45-day MSME payment rule

Industry body SME Chamber of India has urged Finance Minister Nirmala Sitharaman to continue the 45-day MSME payment rule for corporates and other buyers. According to Section 43B(h) of the Income Tax Act, introduced through the Finance Act 2023, if a larger company does not pay an MSME on time -- within 45 days in case of written agreements -- it cannot deduct that expense from its taxable income, leading to potentially higher taxes. The government in last year's Budget added a new clause under Section 43B of the Income Tax Act to address the challenge of delayed payments faced by MSMEs in the country. "We are pursuing not to change the 45-day MSME payment rules imposed by the Department under the pressure of corporates or multinational companies to save the life span of the MSME sector. Section 43B(h) of the Income Tax Act reinforces the importance of timely payments by mandating that companies settle payments to MSME vendors within 45 days to qualify for deductions," SME Chamber

MSME Sahaj: Get quick digital business loans up to Rs 1 lakh in 15 mins

Existing MSME customers of SBI looking to unlock the cash flows instantly can access the service through SBI Yono

PM Modi's systematic bludgeoning of MSMEs economic catastrophe: Congress

The Congress on Wednesday accused the government of "systematically bludgeoning" India's MSMEs and claimed that 140 crore Indians are now paying the economic consequences of Prime Minister Narendra Modi's "cronyism, arbitrary policy-making, and refusal to engage constructively on issues". Congress general secretary Jairam Ramesh cited a new report by credit ratings firm India Ratings to claim that the three shocks of demonetisation, "botched roll-out of GST" and imposition of a nationwide lockdown without prior notice have been devastating for the economy. The India Ratings report has confirmed what the Congress has repeatedly warned --"the non-biological Prime Minister's systematic bludgeoning of India's MSMEs and informal businesses has been an economic catastrophe", Ramesh said. "Three shocks in particular have been devastating. The non-biological PM's surprise announcement of demonetisation on 8th November 2016, which virtually halted all economic activity for the following ...

In the making: Govt plans to launch new portal for all MSMEs queries

MSMEs can access details of all schemes related to the sector on Udyami Bharat

Only 7% of MSME credit to women; low female labour force limits growth: RBI

Reserve Bank's executive director Neeraj Nigam on Friday said low labour force participation among women is a barrier to financial inclusion efforts and also to broader economic growth. He said there is also a need to up the credit supply to women, pointing out that only 7 per cent of the overall outstanding loans to micro, small and medium enterprises are to women-led businesses. "One significant barrier for financial inclusion and indeed to economic growth and development is more participation of females in economic activities," he said, pointing out that official data suggested female labour force participation at 32.8 per cent in FY22, as against over 77 per cent in men. Women constitute only 7 per cent of the outstanding credit to Micro, Small & Medium Enterprises (MSMEs), he said, adding that this is very low when compared to nearly a fifth of the MSMEs being women-led. Speaking at the 'Financing Women Collaborative' conference organized by Niti Aayog and Transunion Cibil ...

45-day SME payment rule aims to ease working capital issues, faces hiccups

For SMEs, which play a significant role in job creation and exports, this is a welcome move. However, the going has not been smooth

60 drug makers join govt scheme to modernise pharma manufacturing units

Indian pharmaceutical companies recently came under the scanner after global supplies of certain medicines were found to be toxic

Govt extends interest equalization scheme by two months for MSME exporters

Ashwani Kumar, president of the Federation of Indian Export Organisations (FIEO), expressed disappointment for exporters who are exporting products under 410 tariff lines

Almost 60% of MSMEs plan to digitise their business processes by 2025: Vi

Almost 60 per cent of MSMEs plan to digitise their business processes, and 43 per cent plan to increase their digitalisation budget by 2025, according to a study by Vi Business, the enterprise arm of Vi (Vodafone Idea). Medium, Small, and Micro Enterprises (MSMEs) are the backbone of India's economy, currently contributing nearly 30 per cent to the country's GDP, the report said. There are several studies that suggest MSMEs will boost their GDP contribution to 35-40 per cent by 2027. Hence, MSMEs must adopt digital transformation to unleash their growth potential and play a pivotal role in making India a Viksit Bharat (a developed economy) by 2047, it said. The 'Vi Business ReadyForNext MSME Growth Insights Study' drew insights from 1.6 lakh respondents across 16 industries. "In FY 2025, MSMEs are looking to prioritise digitalising business processes (59 per cent) over workspace optimisation (29 per cent), and customer engagement (12 per cent), indicating need for future-proofing

Skills, financial support, AI access key challenges for tech MSMEs: Nasscom

Around 94% of tech MSMEs acknowledged AI's ability to drive business growth, and 87% showed confidence in AI's potential to improve overall productivity in their enterprises

700% surge in just 6 months: 25 SME stocks double in 2024; sell or hold?

Analysts caution that the sharp rally in SME stocks makes them a risky proposition at current levels, and also highlight the inherent risk associated to such investments.

CRISIL SME TRACKER: Road SME players' margins may remain stable in FY25

In FY24, state spends are expected to go up further by 8-12 per cent as their percentage achievement of budgetary allocations are expected to be largely in line with historical average