Union MSME Minister Kalraj Mishra highlighted Scheme of Fund for Regeneration of Traditional Industries (SFURTI) during a press conference. He said 39 clusters under SFURTI would be approved with an approximate cost of Rs. 60 crores. It would be benefiting more than 10,000 artisans. The Scheme is…
Budget 2016
Budget strikes a fine balance between ‘Bharat’, the rural India and 21st century India | Jayant Sinha
NEW DELHI, 8 March, 2016: Jayant Sinha, Minister of State for Finance, today described the Union Budget 2016-17 as one which achieves a fine balance between ‘Bharat’, the informal rural economy and India, the modern 21st century India; between fiscal rectitude and economic growth imperatives an…
Rs. 3000 crores for development of MSME sector | Kalraj Mishra
Union MSME Minister Kalraj Mishra has said that out of Rs. 3000 crore allocation to his Ministry, more than Rs. 1100 crore will be used for generating employment for more than 4,25,000 persons under Prime Minister Employment Generation Programme (PMEGP). He also stated that Rs. 130 crore has been…
Budget 2016 ensures ‘Small is Big’; SME tax exemption limit elevated
In view with the growing demand to push the statistically proven economy drivers of the nation, government has unveiled Budget 2016, proposing to offer tax exemptions for SMEs. Units with turnover of up to Rs. 2 crore will have the benefit of the pitch. The threshold is twice the previous limit u…
Despite high target, Mudra refinance to remain low
Even as the government has set a lofty target of Rs 180,000 crore of loan sanctions under its Mudra Yojana, the actual refinance by Mudra, Non-Banking Finance (NBFC) arm of Small Industries Development Bank of India (SIDBI), will be not more than Rs 4,000 crore this year. In the 2015-16 budget,…
Budget evokes mixed response from MIA
The Union Budget has evoked mixed reactions from the Mysore Industries Association (MIA). It has said that the budget provided measures for the overall economic development of the nation, but had nothing in specific for the Micro, Small and Medium Enterprises (MSME) sector. Vishwanath, MIA Presid…
Expert sees bright scope for startups in pre, post-harvest technologies
Increased allocation to agriculture by 84 per cent and resolve to double income in five years will see lot of opportunities by technocrats and management graduates in startups in pre and post-harvesting technologies, says Executive Vice Chairman of Vizianagaram-based Vijaynagar Biotech Ltd and no…
Budget will boost many sectors in Goa | CM
Stating that the Union Budget would be win-win situation for Goa, Chief Minister Laxmikant Parsekar on February 29 said that each village panchayat in the state will get Rs 80 lakh, while each Municipal Council will get Rs 21 crore from the Central Government in the coming financial year. Stating…
Jewellery duty may dim start-ups’ prospects
Finance Minister Arun Jaitley’s Budget announcements were in line with the expectations of most start-ups. It was an affirmation of what had been promised by Prime Minister Narendra Modi at the ‘Startup India’ initiative in January. However, the proposed one per cent excise duty on branded jewell…
Govt contribution to Employee Pension Scheme to help MSMEs
Union Budget for 2016-17 has evoked mixed responses from MSME (Micro, Small and Medium Enterprises) sector in Dakshina Kannada district. B A Nazeer, President of Canara Plastic Manufacturers’ and Traders’ Association (CPMTA), told that the initiative to pay the Employee Pension Scheme contributio…