All India MSME Association (AIMA MSME), one of the representation body recognized by the MSME Ministry for the small and medium enterprises has appreciated the passage of GST Bill by Rajya Sabha on August 03, 2016. “Not just the MSME, but across the industries, I am sure this will give a positive…
News
GST to cut red tape, help SME sector, says West Bengal Finance Minister
The uniform Goods and Services Tax (GST) is going to benefit Small and Medium Enterprises (SME) the most by way of cutting down bureaucracy and the existing layered tax structure, West Bengal Finance Minister Amit Mitra said. Mitra said SMEs feed large industries and that this is the most labour-…
Nasscom seeks changes in GST model law
While Indian IT industry body Nasscom said that the Goods and Services Tax (GST) Bill is a welcome move, it has also voiced some concerns on the GST Model Law. Nasscom has suggested certain changes to the finance ministry on self-declaration procedures, instead of multiple paper-work for registra…
External and internal R&D would benefit Pakistan and Indian SMEs
Small and Medium-sized Enterprises (SMEs) play a vital role in the economic growth of a country. Specifically, in developing countries where poverty, unemployment, low income per capita, low literacy rate, and high inflation and interest rates can hinder economic growth, SMEs contribute significa…
Centre’s flagship initiatives likely to get additional funds
National industrial corridors, ‘Make In India,’ ‘Start-up India’ and the national Intellectual Property Rights (IPR) policy may get a major fillip later this year in terms of additional Budgetary allocation. The Department of Industrial Policy and Promotion (DIPP) — the nodal agency for industria…
All parties except AIADMK supporting GST; voting remains
August 3, 2016: As the debate on GST Bill continues in Rajya Sabha with voting likely to be held late into the night, all parties supported it except for AIADMK. Today in the Rajya Sabha session on GST, main opposition Congress and most other parties, except AIADMK, expressed support, with certai…
Big opportunity for SMEs in defence: Vidarbha Industries Association
With big Indian companies showing interest in manufacturing defence equipments, the Small and Medium scale Enterprises (SMEs) have a big opportunity to set up ancillary units. Reliance has shown interest in setting up a defence equipment park in Mihan and this is a golden opportunity for local co…
KVIC apathy led to loans of Rs. 551 crore turning bad: CAG
The failure of the Khadi and Village Industries Corporation (KVIC) to follow up on loans led to Rs. 551.46 crore not being recovered, and also resulted in the diversion of Rs. 226.70 crore meant for servicing loans of SBI up to March 31, 2015, the CAG said in its compliance audit report. As on Ma…
Seminar to connect MSMEs with fund providers being held in Kolkata on Aug 10
A seminar on ‘Financial Clinic for MSMEs – Facilitating Businesses for Sustainability”; is being organized in the city on August 10, 2016. The seminar is aimed at connecting the MSMEs to the fund provider as per their specific financial needs ranging from collateral-free loans to working ca…
Commerce Ministry to add representation from MSME sector in board of trade
The Commerce and Industry Ministry has decided to add a representative from Micro, Small and Medium Enterprise (MSME) sector in the Board of Trade (BoT), which discusses ways to boost exports, reports media. “In order to give appropriate representation to MSME sector, it has been decided to…