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.…
Budget 2016
Fintech players upbeat about digital literacy
Financial technology startups and payments companies have cheered at the rural push in the 2016 Union budget presented by Finance Minister Arun Jaitley in the Union Parliament on February 29. With the minister giving a push towards financial literacy in rural areas, ATMs and micro ATMS in post of…
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…
FM gives Rs 500 crore to support sc/st, women entrepreneurs
Union Finance Minister Arun Jaitley said the government will partner with Dalit Indian Chamber of Commerce and Industry (DICCI) to set up entrepreneurial hubs for entrepreneurs from the backward classes. Jaitley, presenting the Union Budget for 2016-17, said the government proposes to allocate Rs…
Varun Mirchandani, ONICRA ED | Budget well balanced, focuses on SMEs
With an estimate over 57.7 million, Indian MSMEs contribute 8% to the total Gross Domestic Product (GDP) and account for 40% of the total Indian exports. MSMEs lead to entrepreneurial development and diversification of the industrial sector. Budget 2016 has tried to, and has, well-balanced the ec…
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 …
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…
CRISIL | Budget is fiscally prudent, socially redistributive
CRISIL’s Budget analysis: ■ Fiscal math mostly ties up The government has done a fine balancing act and maintained its credibility by sticking to the Fiscal Responsibility and Budget Management (FRBM) target of bringing down fiscal deficit to 3.5% of GDP in fiscal 2017 after having met the 3.9% t…
Prime Minister on Budget 2016
On the Budget 2016-17, Prime Minister Narendra Modi said special attention has been paid to agriculture, village infrastructure, healthcare, employment generation and Dalit entrepreneurship. “This Budget is pro-village, pro-poor, pro-farmer. The main focus is on bringing about qualitative change …