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.…
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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…
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…
Post Budget Comments of Ashwani Kumar, IBA Chairman & Dena Bank CMD
The budget is well balanced since it gives impetus to long term growth and lays a credible road map of fiscal consolidation. It adheres to fiscal deficit target of 3.5% of GDP and has come out of prudence on the backdrop of global economic conditions with a bundle of tax measures to put private d…
Exporters happy with broad Budget thrust, though wanted specific steps for relief | EEPC India Chairman T S Bhasin
Welcoming the broad thrust of the Budget which realises the headwinds faced by Indian exporters in the global markets, EEPC India Chairman T S Bhasin today said emphasis on rail and road by increased investment along with better port connectivity should help the foreign trade in the long run. Eas…
Bengal marches ahead with glory in MSME sector | West Bengal Govt
West Bengal Government said that the MSME (Medium, Small and Micro Enterprises) is one of the sectors in the state which has done particularly well. There are about 50,850 MSME units in the State, employing about 5,45,000 people. Chief Minister Mamata Banerjee created the Biswa Bangla brand and s…
MSME Ministry announces Rs 10k Cr package for Nagaland
The Union Minister for Micro, Small and Medium Enterprises (MSME), Kalraj Mishra, who visited Nagaland on February 26 to inaugurate the Regional Conclave of MSME at Chumukedima has announced Rs.10,000 crore to be sanctioned for Nagaland for development of the MSME sector in the state. This was st…