Union Finance Minister Arun Jaitley has launched the MSME Databank alongside Online Finance Facilitation Web Portal at the 14th National Board for MSME Meeting in New Delhi on August 11. The portals aim to provide collective funding options for MSMEs sourced from major financial institutions. “Th…
Tag: MSME
India considers Venture Capital Funds to discharge offsets
Overseas defense companies could invest in select Indian Venture Capital Funds (VCF) to discharge compulsory defense offsets if a proposal, currently under consideration, is implemented by the Indian Ministry of Defence (MoD), according to a Senior Ministry Official. Investments by overseas compa…
GST & MSMEs | Impact assessment
On August 3, 2016 Rajya Sabha has finally passed the much awaited 122nd Constitutional Amendment bill which allows GST to be implemented. It took around 16 years, since GST first got conceptualized by Vajpayee govt, but better late than never. Finally the Bill has been passed unanimously in the R…
KVIC apathy led to loans of Rs. 551 crore turning bad: CAG
The failure of the Khadi and Village Industries Corporation (KVIC) to follow up on loans led to Rs. 551.46 crore not being recovered, and also resulted in the diversion of Rs. 226.70 crore meant for servicing loans of SBI up to March 31, 2015, the CAG said in its compliance audit report. As on Ma…
Commerce Ministry to add representation from MSME sector in board of trade
The Commerce and Industry Ministry has decided to add a representative from Micro, Small and Medium Enterprise (MSME) sector in the Board of Trade (BoT), which discusses ways to boost exports, reports media. “In order to give appropriate representation to MSME sector, it has been decided to…
MP to have investor summit exclusively for MSME
Industry Minister Rajendra Shukla has said that an investor summit exclusively for Micro, Small and Medium Enterprises (MSME) would be organised to attract investments in the state. “MSME needs a new lease of life. We will hold an investor summit exclusively for MSME in the state,” he said during…
Himachal Pradesh to soon formulate separate policy for MSMEs
Himachal Pradesh will soon formulate a separate policy for the MSMEs and all issues related to the sector will be resolved soon, Industries Minister Mukesh Agnihotri said. He was addressing a conclave of Micro, Small and Medium Enterprises on “enhancing competitiveness” organised by C…
West Bengal to revive football manufacturing
The state that has given the country some of their finest footballers is taking a step ahead to come up with the finest footballs too. Mamata Banerjee, after promoting sports at various grass root levels she is now trying to revive the football manufacturing industry in the state. In a tie up wit…
Government’s effort increases merchandise exports
The merchandise exports from the country have registered an increase of 1.27 percent in Dollar terms (6.72 percent in Rupee terms) in June 2016 compared to the same month of the previous year. The details of key efforts made by Government for increasing exports are as follows: i) The New Foreign …
Govt issues guidelines on SC/ST Hub to encourage entrepreneurs
Government issued guidelines related to setting up of the National Scheduled Caste and Scheduled Tribe Hub to provide professional support to entrepreneurs coming from such communities. “The scheme is proposed to be applicable from the date of sanction till March 31, 2020. Total project cos…