Stating that the Union Budget would be win-win situation for Goa, Chief Minister Laxmikant Parsekar on February 29 said that each village panchayat in the state will get Rs 80 lakh, while each Municipal Council will get Rs 21 crore from the Central Government in the coming financial year. Stating…
Start-up SBricks.com plans to expand its footprint in the south
SBricks.com, a tech-based start-up that offers on-demand services such as home cleaning, laundry and repairs, is planning to expand its footprint in Hyderabad, before expanding to other major cities in the South next year. The firm has opened three walk-in store services in three locations (aroun…
Jewellery duty may dim start-ups’ prospects
Finance Minister Arun Jaitley’s Budget announcements were in line with the expectations of most start-ups. It was an affirmation of what had been promised by Prime Minister Narendra Modi at the ‘Startup India’ initiative in January. However, the proposed one per cent excise duty on branded jewell…
Robotics firm Systemantics gets next round of funding from Nandan Nilekani
Robotics firm Systemantics, which builds industrial robots for the manufacturing sector, has raised another round of funding from venture capital giant Accel Partners and Infosys Co-Founder Nandan Nilekani, a few years after it received backing from investors such as Blume Ventures. Systemantics,…
Slew of initiatives for rain-hit MSME units | Jayalalithaa
Tamil Nadu Government on March 1 announced a series of initiatives benefiting the micro, small and medium enterprises (MSMEs) that were badly affected by torrential rainfall in December last year. Noting that her government had already announced welfare measures for MSME units affected by floods …
Govt contribution to Employee Pension Scheme to help MSMEs
Union Budget for 2016-17 has evoked mixed responses from MSME (Micro, Small and Medium Enterprises) sector in Dakshina Kannada district. B A Nazeer, President of Canara Plastic Manufacturers’ and Traders’ Association (CPMTA), told that the initiative to pay the Employee Pension Scheme contributio…
33 lakh MSMEs to gain from presumptive tax changes | Kalraj Mishra
About 33 lakh assessees in the MSME category will benefit from changes in the Presumptive Taxation Scheme proposed in Budget 2016-17, Union Minister Kalraj Mishra said on March 1. “33 lakh people will benefit from the changes announced in the Presumptive Taxation Scheme,” Mishra said.…
Testbook raises funding from S Chand & Company
Edtech startup Testbook has raised an undisclosed amount of funding from education content provider, S Chand and Company. Founded by IIT alumni Narendra Agrawal and Ashutosh Kumar, Testbook focusses on online test preparation for competitive exams. The Mumbai-based startup aims to build a persona…
DriveU raises $1 million from Unitus seed fund
DriveU, an on-demand driver service, has raised funds from Unitus Seed Fund, a move that will help the company compete with taxi-aggregators like Ola and Uber. While the Bengaluru-based company declined to disclose the investment details, sources said Unitus has pumped in about $1 million (about …
Fintech players upbeat about digital literacy
Financial technology startups and payments companies have cheered at the rural push in the 2016 Union budget presented by Finance Minister Arun Jaitley in the Union Parliament on February 29. With the minister giving a push towards financial literacy in rural areas, ATMs and micro ATMS in post of…