The high percentage of Goods and Service Tax announced by the Union government is a big blow to the small and middle scale processing units in the granite industry. The government failed to consider the existing structure of taxes before announcing a single tax for all types of producers, laments…
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Pondy budget emphasises on ease of doing business: CII
The Confederation of Indian Industry (CII) on May 27 welcomed the budget presented by Puducherry Chief Minister V Narayanasamy, for the fiscal 2017-2018, in the assembly on May 25. In a release, the Chairman of CII, R D Shrikanth said, “The budget has placed greater importance on ease of do…
PM calls for start-up ideas for innovative, cheaper medical devices
Prime Minister Narendra Modi has invited start-up ideas for medical devices that would be innovative and cheaper in order to address the issues concerning the healthcare sector. In an address to mark 75 years of cancer treatment by Tata Memorial Hospital, Modi invited start-ups to focus on resear…
India Emerging: London woos 20 Indian start-ups to set up biz
Bengaluru: As many as 20 start-ups across India have been shortlisted for assistance to set up their businesses in London, as part of the India Emerging 20 programme hosted by London Mayor’s initiative London & Partners. These 20 start-ups have been selected from 345 participants across the c…
#3YearsOfModiGovt: ‘Nothing much changed on ground for start-ups’
The Narendra Modi government has made a lot of promises for entrepreneurs in India, but how many of them have really helped the startup sector is a question that begs an answer. Whatever the answer, which is detailed below, a general consensus is that it is the first government that has paid more…
IBM eyes SMEs to drive growth in Cloud business
IBM India has announced plans to focus on small and medium enterprises to drive growth in its Cloud business. “We already have large customers. But now we see very small customers getting into Cloud,” said Vikas Arora, Country Manager, Cloud Business IBM India & South Asia. “We are seeing tha…
7.45 cr small businesses get loans under Mudra Yojana: Amit Shah
As part of government’s effort to fund the unfunded, more than 7.45 crore entrepreneurs have been given bank loans under Pradhan Mantri Mudra Yojana, BJP President Amit Shah said. Easy loans have been provided to small businesses like barber shop owners, cobblers and cycle mechanics etc und…
‘GST filings will reduce risk, help SMEs in securing credit’
While small and medium businesses are expected to face teething trouble in complying with the Goods and Services Tax regime, the new tax system will also open an opportunity for them to access credit as GST filings are set to become a significant data source for flow-based lending. Both banks and…
Karnataka launches Elevate programme to help start-ups scale operations
The Karnataka government says it is looking to reach and aid at least 1,000 start-ups from smaller cities and towns over the next two months. This is part of its ‘Elevate’ programme, to identify 100 of the most innovative start-ups across sectors in the state. The government is partne…
Qualification tweaked: Start-up India benefits to now flow for 7 years
New Delhi: The government has introduced minor changes to the startup definition, saying a business not older than seven years will now qualify for benefits under the Startup India Action Plan. So far, only companies up to five years from the date of incorporation were eligible for concessions un…