Defence Minister Manohar Parrikar feels that the synergy between DRDO and industry in developing products has provided the needed thrust for exporting defence products globally. “We are taking steps in this direction and I am sure that our missiles and weapon systems will be well-received in the …
Post-demonetisation, budget to offer tax cuts for SMEs
With the impact of demonetisation on the Small & Medium Enterprises (SMEs), Finance Minister is likely to provide tax cuts to boost the SMEs businesses that have faced the hardships in the past few months. This year budget would likely be announced on Feb 01, 2017 and the government has time …
Banks asked to revisit sick MSME portfolios
Bhubaneswar: With banks insisting on repayment of overdue, less than 30 per cent sick MSME units have applied for revival in the State. According to information available with the MSME Department, just about 726 sick units were found to have applied to the Stress Committee for revival out of 2,53…
Budget 2017: Tax breaks for PEs, VCs, angel investors & hedge funds?
Finance Minister Arun Jaitley may propose to create a favourable tax environment for venture capitalists (VCs), private equity (PE) firms, angel investors and hedge funds as part of the broad strategy to ease fund flow to start-ups and small businesses. The measures, likely to be announced in the…
Practo raises $55 mn in Series-D funding led by China’s Tencent
Digital healthcare start-up Practo Technologies Pvt Ltd has raised $55 million in a Series-D funding round led by China’s Tencent, with participation from new investors ru-Net, RSI Fund, owned by Recruit Holdings and Thrive Capital. Existing investors Sequoia Capital, Matrix Partners, Google Capi…
Demonetisation cap: Daily limit hiked to Rs 10k, but weekly stays at Rs 24k
In a move that will bring relief to small traders and businessmen, the Reserve Bank of India (RBI) on January 16 allowed them to withdrawal cash from current accounts of Rs 1 lakh per week compared with just Rs 50,000 earlier. The facility will be applicable to overdraft and cash credit accounts …
UpGrad to offer entrepreneurship program under Start Up India
Online education provider UpGrad has launched an entrepreneurship programme under government’s ‘Start Up India’ initiative to provide insights into areas like validation of ideas, funding and legal framework for new businesses. The new 4-week programme — Startup India Lear…
More measures to ease funds flow to SMEs needed: Experts
The government may have come out with various recommendations to rejuvenate small and medium enterprises, but experts say more measures may be needed to overcome various structural hindrances to easing the funding problems of this traditionally cash-heavy sector. To help the SME industry, which i…
20 start-ups register every day in Karnataka
The last four months of 2016 saw nearly 20 firms register with Karnataka’s Startup Cell every day .From just 27 startups registered at the time the Siddaramaiah government took over in 2013, the number has risen to 2,397 as of December end. In 2013, there was only one nodal officer for star…
To ensure success of Start Up India, Digital India, regulators must encourage innovation
There has been a flurry of developments in India’s innovation landscape since the country announced its National IPR Policy, earlier last summer. The policy document rightly underscores the government’s recognition of the importance of strong intellectual property rights for fostering innovation …