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…
Tag: MSME
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…
Manufacturing sector to be next focus area for startups
In the line with the dominance of services sector that contributes about 53% to the gross domestic production of India, startups in this space outnumber their counterparts in manufacturing segment. But startup mentors feel that the time has come for their convergence. Girish Gupta, Chief Executiv…
Start-up SBricks.com plans to expand its footprint in the south
SBricks.com, a tech-based start-up that offers on-demand services such as home cleaning, laundry and repairs, is planning to expand its footprint in Hyderabad, before expanding to other major cities in the South next year. The firm has opened three walk-in store services in three locations (aroun…
Slew of initiatives for rain-hit MSME units | Jayalalithaa
Tamil Nadu Government on March 1 announced a series of initiatives benefiting the micro, small and medium enterprises (MSMEs) that were badly affected by torrential rainfall in December last year. Noting that her government had already announced welfare measures for MSME units affected by floods …
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…
33 lakh MSMEs to gain from presumptive tax changes | Kalraj Mishra
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.…
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…
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 …
More tax sops for small businesses expansion
The budget proposal to offer tax exemptions for small businesses with turnover of up to Rs 2 crore, twice the previous limit, will encourage them to expand and do business fairly, said experts. When SMEs expand production, they fall off the tax exemption bracket which is a major deterrent for gro…