Moradabad: The constant clang of artisans’ wooden hammers and chisels shaping brassware in the bylanes of India’s brass city never disturbs anyone. But its absence did recently, when exporters ran out of cash to pay workers following demonetisation. The export industry, estimated to e…
Tag: Lok Sabha
Gujarat plans ‘biz for sale’ website for ‘sick’ MSME units
While the eight edition of the Vibrant Gujarat Global Summit is likely to witness the signing of over 16,000 memorandums of understanding (MoUs) by the Micro, Small and Medium Enterprises (MSME), it is ironical, that Gujarat has the highest number of sick MSMEs after Uttar Pradesh and Maharashtra…
Sick MSMEs owe Rs 40,642 cr to banks: Kalraj Mishra
The number of sick MSMEs has risen to 4,86,291 in 2016 and owe Rs. 40,642.50 crore to banks as outstandings. This is much higher than the total number of 4,73,823 sick MSMEs till March 2015 and 4,68,399 in March 2014, and almost double that of 2,22,204 in March 2013, according to the Reserve Bank…
Trade restrictions imposed on China need to be WTO compliant: Sitharaman
India’s trade deficit with China rose to $52.69 billion in 2015-16, from $48.48 billion in the year before, Parliament was informed on November 28. Commerce Minister Nirmala Sitharaman told the Lok Sabha in a written reply that during the April-September period of the current fiscal, the de…
No ‘Make in India’ without makers in India: Rajiv Pratap Rudy
Batting for creating a skilled workforce, Rajiv Pratap Rudy, Minister of State for Skill Development & Entrepreneurship, has sounded the need for “makers in India” to take the country forward. Addressing the All India Management Association’s 43rd National Management Convention, Rudy said, “E…
Govt clears setting up of GST Council
Following presidential assent last week to the GST Bill, the Union Finance Ministry on September 12 notified the provisions of the Constitution Amendment Act that allows for setting up the Goods and Services Tax (GST) Council. “The Central Government hereby appoints the 12th day of September, 201…
Small businessmen wary of retro tax demand under GST mechanism
The Goods and Services Tax (GST) has been heralded as India’s biggest reform since the 1991 liberalisation but one aspect of it has made certain small businesses nervous. Given that it will be virtually impossible to escape the tax net once the new levy is implemented, will this make them f…
Govt launches performance, credit rating scheme for MSMEs
A performance and credit rating scheme has been launched by the MSME Ministry to assess the capabilities and creditworthiness of the industries in the sector, Lok Sabha has been informed. “The Ministry of MSME through National Small Industry Corporation Limited is implementing Performance a…
KVIC to set Khadi stall in Parliament
The Khadi and Village Industries Commission (KVIC) is all set to tap the Members of Parliament to help take Khadi to the nook and corner of the country. Lok Sabha Speaker, Sumitra Mahajan has agreed to a request from the KVIC Chairman, V.K.Saxena, to allocate space to set up a stall within the Pa…
Monsoon Session of Parliament | Agendas concerning MSMEs
Carry your umbrellas as the Monsoon Session of Parliament is expected to rain bills. From Goods and Services Tax (GST) to MSME Development (Amendment) Bill, this hot and humid session has a lot on its plate for the MSME Sector. A total of 11 Bills are pending in the Lok Sabha and there are as [&h…