After pitching for a two per cent cut in RBI’s interest rate, Commerce Minister Nirmala Sitharaman has said banks have not sufficiently understood the problems faced by Small and Medium Enterprises (SMEs), especially those related to high credit costs. Responding to Twitterati on the issue,…
Tag: Nirmala Sitharaman
Sitharaman pitches for cut in repo rate to help MSMEs
Making a strong case for providing medium & small manufacturers and exporters with cheaper credit, Commerce and Industry Minister Nirmala Sitharaman on August 24 pitched for a cut in the repo rate by as much as 200 basis points to help the cash-starved Micro, Small and Medium Enterprises (MSM…
Nimala Sitharaman launches e-Marketplace to ensure transparency in governance
Aiming to ensure greater transparency and revolutionise government procurement, Commerce and Industry Minister Nirmala Sitharaman has launched the Government e-Marketplace (GeM), an official statement said in New Delhi. The Directorate General of Supplies and Disposals (DGS&D) has developed t…
Start-ups seek easier access to tax benefits
At a meeting with Commerce Minister Nirmala Sitharaman on July 28, a number of start-up enterprises asked for easier access to tax benefits and more incubation facilities, among others. The Minister later told journalists that issues such as government funding and online selling of prescription d…
DIPP certificate enough for a start-up to get IPR sops
Commerce and Industry Minister Nirmala Sitharaman announced that a start-up would from now need only a certificate of recognition from the Government to avail of IPR-related benefits. As part of the Government’s concerted bid to improve ease of doing business, Commerce and Industry Minister Nirma…
StartUp India: 16 entities incorporated, tax sops rejected for 2
Only 16 applicants have been incorporated under the Start Up India programme after April 1 this year making them eligible for tax sops out of which two have already been disallowed, Parliament was informed. A total of 728 applications have been received till July 18, 2016 for Start Up recognition…
Government to involve states to push startups
In order to give impetus to startups, the government will hold detailed discussions here with states and other stakeholders on July 23. The main aim of the day-long function is to share knowledge and best practices being followed by few states on promoting budding entrepreneurs, an official said.…
Commerce Ministry launches portal for e-Procurement
The Commerce Ministry has launched an e-marketplace for online purchase of goods and services by various central government ministries and departments. The move is aimed at bringing in more transparency and streamlining the government procurement of goods and services. The Directorate General of …
DIPP to organise startup festival in Hyderabad in September
The Commerce and Industry Ministry will organise a ‘Startup Fest’ in Hyderabad in September, with a view to showcase innovation and provide a collaboration platform. The Department of Industrial Policy and Promotion (DIPP) has requested Prime Minister Narendra Modi to inaugurate the p…
Jammu MSMEs submit memorandum to Nirmala Sitharaman
Jammu MSMEs have requested the Centre to extend incentives to them under DIPP packages and other Central packages of incentives for a period of ten years to woo investors. In this regard, a delegation of Federation of Industries, Jammu led by its Chairman Lalit Mahajan, submitted a memorandum to …