Sector Category: MSME

11Articles

Accelerating the flow of credit to small enterprises is essential for India to achieve its $5 trillion economy dream by 2025 as the MSME sector has been a major driver in the country’s rise as the world’s fifth largest economy

Accelerating the flow of credit to small enterprises is essential for India to achieve its $5 trillion economy dream by 2025 as the MSME sector has been a major driver in the country’s rise as the world’s fifth largest economy, said industry body KPMG in its latest November 2022 report on non-banking financial companies (NBFCs)…

The Reserve Bank of India’s (RBI) decision to include the GSTN as the latest FIP under the AA framework has been hailed as a major push to further ease access to bank credit by MSMEs

The Reserve Bank of India’s (RBI) decision to include the Goods and Services Tax Network (GSTN) as the latest Financial Information Provider (FIP) under the Account Aggregator (AA) framework has been hailed as a major push to further ease access to bank credit by MSMEs. GSTN is the non-profit and non-government organization that manages the…

Laghu Udyog Bharati (LBU), a collective of around 40,000 small businesses in the country, has requested finance minister Nirmala Sitharaman to reserve “manufacturing and marketing of traditional, conventional and low-technology products of mass consumption” for MSMEs

Laghu Udyog Bharati (LBU), a collective of around 40,000 small businesses in the country, has requested finance minister Nirmala Sitharaman to reserve “manufacturing and marketing of traditional, conventional and low-technology products of mass consumption” for MSMEs. In a virtual pre-budget consultation meeting with Sitharaman, LBU said manufacturing of such products, consumed across geographies, is going…

The number of delayed payment cases of micro and small enterprises (MSEs) disposed of by the government’s Micro and Small Enterprise Facilitation Councils

The number of delayed payment cases of micro and small enterprises (MSEs) disposed of by the government’s Micro and Small Enterprise Facilitation Councils (MSEFCs) across the country stood at 20,840 involving Rs 3,841 crore so far since the launch of delayed payment monitoring portal Samadhaan by the Government back in October 2017. The disposed of…

The ministry of MSME has notified that in case of an upward change in terms of investment in plant and machinery or equipment or turnover or both

The ministry of MSME has notified that in case of an upward change in terms of investment in plant and machinery or equipment or turnover or both, and consequent re-classification, an enterprise shall continue to avail of all non-tax benefits of the category it was in before the re-classification, for a period of three years…

The Government has made comprehensive plans for the hospitality, tourism, and travel sectors

The Government has made comprehensive plans for the hospitality, tourism, and travel sectors. These plans include various subsidies, financial assistance for licensing and cluster construction, etc. However, a large chunk of the unorganized sector associated with this business, that is, budget hotels, homestays, and lodge operators are often not aware of the financial aid being…

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