Chennai: Industrial credit slowed across sub-sectors in November, with loans to micro, small and medium enterprises reporting the biggest fall. Credit growth to the services sector slowed down on a month-on-month (m-o-m) basis but performed relatively better than industries. Credit to small &…
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Keep labour-intensive sectors out of GST ambit: Nirmala Sitharaman
Commerce and Industry Ministry asked the GST Council to grant ab-initio exemption to exporters from the Goods and Services Tax and keep the labour-intensive sectors like leather and plantation completely out of the tax net or put them in lowest slab. Commerce and Industry Minister Nirmala Sithara…
Sundar Pichai to announce key initiatives for Indian SMEs today
New Delhi: Google’s India-born CEO Sundar Pichai will attend the small and medium enterprises (SMEs) programme on January 4, where he will announce some key initiatives for SMEs, as part of the tech giant’s efforts to bring more businesses online in the country. Information Technology…
Cotton Association of India projects 345 lakh bales cotton production for 2016-17
Mumbai: The country is expected to produce about 345 lakh bales during 2016-17 as compared to around 338 lakh bales produced in 2015-16 crop year, Cotton Association Of India (CAI) said here. “Due to the improvement in productivity expected on account of better weather conditions across all…
Start-ups brace up for legal war with Income Tax department
Start-ups that have been ordered to pay tax despite valuations being marked down in recent funding rounds are challenging the demands, complaining that the move runs counter to the government’s campaign to encourage entrepreneurial spirit. With startup fever having waned over the past year …
Online lending players tweak SME loan underwriting as credit moves online
The small and medium enterprises have been increasingly logging in to secure funding via online platforms. As more and more SME players move online the players are also tweaking the basic, online underwriting norms to ensure consistency and thereby reduce NPAs in this segment. Experts explain tha…
Retail start-ups see spike in orders, supply chain hit
Chennai: Startups, who had bet big on vegetable and fruit retail — like RainCan, DailyNinja and Ninjacart have seen an uptick in their orders even as management of their supply chain got tough with demonetisation. Online retailers said the length of the supply chain has been affected — from farme…
Govt to present Union Budget for 2017-18 on February 1
New Delhi: The Cabinet committee on parliamentary affairs on January 3rd recommended holding of the Budget Session from January 31 when the government is likely to table the Economy Survey followed by the Union Budget on February 1. The CCPA headed by Home Minister Rajnath Singh met here and made…
Gujarat’s MSME sector on track to realize its full potential: Gujarat CM
In a bid to ensure that the Micro, Small and Medium Enterprises sector in the state continues to grow at a rapid pace, as witnessed following the enactment of the MSME Development Act in 2006, Gujarat has further initiated a host of proactive measures with the state government assuring full suppo…
DIPP proposes tax concession for start-ups, likely to be announced in union budget 2017
In order to boost the government’s Startup India, Standup India movement, the Department of Industrial Policy and Promotion (DIPP) is reportedly formulating a new set of tax concessions on employee stock options, unlisted securities and convertible instruments. The latest Union Budget is expected…