Govt cuts corporate tax rate to 22%, relief on buyback tax

The finance ministry lowered the corporate tax rate to 22% for firms that do not avail tax incentives. New manufacturing companies will have to pay an even lower corporate tax rate of 15% Listed companies announcing share buybacks before 5 July to be exempt from buyback tax New Delhi: The government on Friday cut corporate … Read more

Nitin Gadkari promises ‘concrete decision’ for timely payments to MSME

Speaking at a convention of ‘Laghu Udyog Bharti’, an RSS-linked outfit which works in MSME sector, he also promised to rid the national capital of pollution in five years. Delayed payments is a major headache for Micro, Small and Medium Enterprises, Union MSME minister Nitin Gadkari said on Saturday, adding that he was trying to … Read more

NITI Aayog invites nominations for Women Transforming India Awards

NITI Aayog, the premier think tank of the Government of India, has launched the Fourth Edition of Women Transforming India (WTI) Awards, in collaboration with the United Nations in New Delhi today. UN Resident Coordinator in India, Ms. Renata Lok-Dessallien, opened the nomination process for WTI Awards 2019, in the presence of CEO NITI Aayog, … Read more

Gadkari, MSMEs complain of poor disbursal under 59-minute loan scheme

NEW DELHI: Micro, small and medium enterprises (MSME) minister Nitin Gadkari and small businesses on Tuesday complained about the 59-minute loan scheme being slow in disbursing loan, while asking FM Nirmala Sitharaman to ensure that their dues from the government are cleared expeditiously. Gadkari flagged both the concerns during a meeting convened by FM as part of a series … Read more

Hedge funds make a comeback in India; bet on 25 start-ups this year

Deal volumes similar to 2014, half of 2015, and thrice the deal volume in 2016 and 2018 Hedge funds, which led the start-up funding boom in 2015, are making a comeback, after taking a pause for a few years. And, it is not just Tiger Global, which has invested in 15 start-ups this year. Many … Read more

Postal dept decides to convert India Post Payments Bank to a SFB

India Post will partner with Common Service Centre to provide a suite of citizen centric services such as banking, remittance, insurance, DBT, bill and tax payments etc at post offices The postal department said it has decided to convert the India Post Payments Bank into a small finance bank, enabling it to offer small loans … Read more

LUB apprises Dr A K Panda about challenges faced by MSMEs in Chhattisgarh; demands testing room facility

New Delhi, July 30 (KNN) Laghu Udhyog Bharti (LUB) from Chhattisgarh region have demanded a testing room facility from Ministry of Micro, Small and Medium Enterprises (MSMEs) for tool rooms in their region. In a recent meeting with Dr Arun Kumar Panda, MSME Secretary, during his Chhattisgarh visit at Circuit House in Durg, delegation of … Read more

Empowering India’s hardware startups: Qualcomm signs a technical bilateral cooperation agreement with MeitY

As Prime Minister Narendra Modi’s vision to transform India into a digitally empowered society continues to unfold, Qualcomm is glad to support the country’s technology ecosystem. In keeping with its aim to align with Digital India’s objectives, Qualcomm India, on Thursday, announced that it has signed a technical bilateral cooperation agreement with the Ministry of … Read more