The Internet & Mobile Association of India (IAMAI) said that that the proposal for Amendment of Companies Act to register startups in one day is a welcome move, and it is a step towards ease of doing business in India. “The focus on leveraging technology to streamline distribution and t…
MSMEs hail tax exemption
Micro, Small and Medium Enterprises have welcomed the move to increase the turnover limit under the presumptive taxation scheme to Rs. 2 crore in the Union Budget. The move would bring relief to a large number of assesses in the MSME category, said N. Kanagasabapathy, President, and S. Punniyamoo…
Traders unhappy with budget
The Union Budget 2016-17 failed to impress local industrialists as they were hoping for more announcements to boost up the Micro Small and Medium Enterprises (MSME) sector. Industrialists feel Finance Minister Arun Jaitely had stressed on the agriculture sector and they had been neglected. Anurag…
FM gives Rs 500 crore to support sc/st, women entrepreneurs
Union Finance Minister Arun Jaitley said the government will partner with Dalit Indian Chamber of Commerce and Industry (DICCI) to set up entrepreneurial hubs for entrepreneurs from the backward classes. Jaitley, presenting the Union Budget for 2016-17, said the government proposes to allocate Rs…
Govt walks the talk on Make in India
The government has given a big push to the Make in India campaign, the centrepiece of its plan to create jobs through domestic manufacturing, with a raft of tax incentives and proposals that make it easier to do business. “Smaller industries which are essential to the success of the Make in India…
Varun Mirchandani, ONICRA ED | Budget well balanced, focuses on SMEs
With an estimate over 57.7 million, Indian MSMEs contribute 8% to the total Gross Domestic Product (GDP) and account for 40% of the total Indian exports. MSMEs lead to entrepreneurial development and diversification of the industrial sector. Budget 2016 has tried to, and has, well-balanced the ec…
Arun jaitley makes ‘room’ for Startups & SME, supporting act falls short of an Oscar
In a speech peppered with references to startups and MSMEs, Finance Minister Arun Jaitley in his Budget presentation for 2016-17 had a series of policy initiatives and schemes that aimed at easing the hurdles that startups face and ensuring MSMEs in the country get a boost. Launching the Startup …
More tax sops for small businesses expansion
The budget proposal to offer tax exemptions for small businesses with turnover of up to Rs 2 crore, twice the previous limit, will encourage them to expand and do business fairly, said experts. When SMEs expand production, they fall off the tax exemption bracket which is a major deterrent for gro…
Union budget benefit MSMEs in Gujarat
The Union Budget presented by Finance Minister Arun Jaitley on February 29 announced a string of tax sops for India’s first International Financial Services Centre (IFSC) being built at GIFT City at Gandhinagar. Tax benefits announced by the minister “to facilitate setting up of the IFSC in India…
CRISIL | Budget is fiscally prudent, socially redistributive
CRISIL’s Budget analysis: ■ Fiscal math mostly ties up The government has done a fine balancing act and maintained its credibility by sticking to the Fiscal Responsibility and Budget Management (FRBM) target of bringing down fiscal deficit to 3.5% of GDP in fiscal 2017 after having met the 3.9% t…