Tax exemptions for three years and concessions on capital gains tax. A fund of Rs. 10,000 crore to back startups. Initially the corpus will be Rs. 2,500 crore. Also, a credit guarantee fund for startups. There will be a Startup India hub which will act as a single point of contact for interactio…
Policy
Procurement by PSUs, govt units from MSMEs to be increased | Kalraj Mishra
Procurement by public sector undertakings (PSUs) and government departments from MSMEs is “dismal” and should be increased, MSME Minister Kalraj Mishra said. “The government has made mandatory for the PSUs and government units that they should make at least 20 per cent of their …
New startup policy to boost entrepreneurs
Addressing a ‘Startup Leaders Meet’ organized by FICCI in association with TiE Silicon Valley, United States, there was a need to create an ecosystem for startups where knowledge workers could be converted to knowledge entrepreneurs. The business delegation from TiE Silicon Valley was visiting In…
Pradhan Mantri Fasal Bima Yojana – A boost to farmers
‘Pradhan Mantri Fasal Bima Yojana’ – a path breaking scheme for farmers’ welfare is launched by Prime Minister Narendra Modi. The new Crop Insurance Scheme is in line with One Nation – One Scheme theme. As per the scheme: There will be a uniform premium of only 2% to be paid by farme…
Need to evolve customized funding solutions for SMEs: RBI
The Reserve Bank of India is of the view that the ‘one-size-fits-all approach’ of banks is detrimental when it comes to lending to small and medium enterprises (SMEs). In a recent report prepared by RBI Executive Director Deepak Mohanty, global examples such as Amazon Lending and supplier financi…
Govt likely to promote SMEs in Capital Goods sector
Amid not-so-encouraging performance of the capital goods sector in the country, the government is considering setting up a technology development fund for the sector even as it explores ways to promote SMEs and bring in standardization. According to a senior official in the department of heavy in…
UP to boost Hospitality sector
In a significant boost to the hospitality sector, the Akhilesh Yadav government is set to award a cash subsidy of Rs 10 crore to investors interested in setting up hotels in Uttar Pradesh. The proposed UP Tourism Policy-2016, combined with other incentives on offer, is likely to attract key playe…
PSU Banks asked to focus on niche areas, infra sharing
The Ministry of Finance (MoF) is keen that public sector banks should carve out a niche in some specific banking sectors and also share the infrastructure. “Have the banks started carving out a niche for them in some specific banking sector such as retail, SME, project finance and geographies so …
West Bengal unveils new start-up policy
To provide an enabling ecosystem to support and nurture startups in the state, the West Bengal Government launched the state startup policy at the Bengal Global Business Summit. The policy, a document with eight broad pointers comes complete with a preamble, a vision, the state’s mission, t…
Odisha govt to bring out a new MSME development policy
Odisha Government is in the process of bringing out a new MSME (Micro, Small & Medium Enterprises) Development Policy and an Entrepreneurship Development Policy, said Chief Minister Naveen Patnaik while inaugurating the MSME Trade Fair -2016 in Bhubaneswar on January 8. Inaugurating the seven…