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…
MSMEs need not use IBC to recover dues
Taking the route the MSMED Act provides is faster, easier and can be enforced through decree One of the most talked of laws in recent years has been the introduction of the Insolvency and Bankruptcy Code, 2016, which has given stakeholders the power to take a defaulter (company/LLP) to the…
Govt to soon decide on Sinha panel report on MSME sector: Nitin Gadkari
On UK Sinha panel report, the minister said he has spoken to the finance minister and it has been decided that finance secretary and his MSME counterpart will prepare a final report on the recommendations in the next eight days. The government will soon take a call on the recommendations…
MSME Sector Needs Out-Of-The-Box Thinking, Says Gadkari About Bharat Craft Platform
Bharat Craft is the government’s ecommerce platform modelled around the e-marketplace Nitin Gadkari earlier said the portal can bring about INR 10 Lakh Cr. turnover to MSME sector Amazon and Flipkart has also launched dedicated portals to sell Indian handicrafts India’s minister of micro, small and medium enterprises (MSMEs), Nitin…
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…
Mohan Bhagwat bats for small and medium scale industries, financial freedom
“The first condition for attaining financial freedom for all is that every person should become self-sufficient. Those who are not self-sufficient do not have freedom,” he said. Small and medium scale industries can make people financial independent and not the big corporations, RSS supremo Mohan Bhagwat said here on Friday….
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…
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…
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…
24×7 Neft transfer from Dec ember to boost digital play
New Delhi: Taking a series of steps to boost the adoption of digital payments, RBI on Wednesday said the National Electronic Funds Transfer (NEFT) facility will be available 24×7, the scope of utility bill payments will be expanded, and more players will be encouraged in the retail payment space. Beginning December, online payments…
स्टीलबर्ड कंपनी काश्मीरमध्ये फॅक्ट्री उघडणार
नवी दल्लीः जम्मू-काश्मीरला विशेष राज्याचा दर्जा देणारे कलम ३७० रद्द करण्याचा निर्णय केंद्र सरकारने घेतल्यानंतर देशभरातून या निर्णयाचे स्वागत करण्यात येत आहे. या निर्णयानंतर जम्मू-काश्मीरमध्ये जमीन खरेदी करण्याला, व्यापार करण्याला इतर राज्यातील लोकांना परवानगी मिळणार आहे. आशियातील सर्वात मोठी हेल्मेट कंपनी स्टीलबर्ड हायटेकने जम्मू-काश्मीरमध्ये कारखाना उघडण्याची इच्छा बोलून दाखवली आहे. स्टीलबर्ड…
काश्मीरमध्ये मिळणार गुंतवणुकीची संधी, बांधकाम व्यवसायिक उत्सूक
जम्मू काश्मीरला विशेष राज्याचा दर्जा देणारे कलम ‘३५ ए’ आणि ‘३७०’ हटविल्यानंतर बांधकाम क्षेत्रातील कंपन्या आता तेथे गुंतवणुकीसाठी संधी शोधत आहेत. त्याचमुळे देशातील रिअल इस्टेट क्षेत्रात कमालीचे उत्साहाचे वातावरण पसरले आहे जम्मू काश्मीरला विशेष राज्याचा दर्जा देणारे कलम ‘३५ ए’ आणि ‘३७०’ हटविल्यानंतर बांधकाम क्षेत्रातील कंपन्या आता तेथे गुंतवणुकीसाठी संधी…
कर्ज घोटाळ्यात ईडीच्या धाडी; ४८१ कोटींच्या मालमत्ता जप्त
नवी दिल्ली : कोट्यवधी रुपयांच्या कर्ज घोटाळ्याप्रकरणी अंमलबजावणी संचालनालयाने (ईडी) गुरुवारी बासमती तांदूळ प्रक्रिया उद्योगातील आघाडीची कंपनी आरईआय अ‍ॅग्रो लिमिटेडच्या तळांवर छापे मारले. या छाप्यांत कंपनीच्या ४८१ कोटी रुपयांपेक्षा जास्त किमतीच्या मालमत्ता ईडीने जप्त केल्या आहेत. ईडीने कंपनीविरुद्ध मनी लाँड्रिंग प्रतिबंधक कायद्यान्वये हंगामी जप्ती आदेश काढला होता. त्यानुसार, ही कारवाई करण्यात आल्याचे…
Nirmala Sitharaman to meet stakeholders for actions proposed by U.K. Sinha Committee to boost MSMEs
Finance Minister Nirmala Sitharaman will meet with the concerned stakeholders within the next week to finalise decisions to be taken and timelines for action required with respect to the Expert Committee on MSMEs Finance Minister Nirmala Sitharaman will meet with the concerned stakeholders within the next week to finalise decisions…
Govt softens stance on time frame for transition to electric vehicles
The change in stance follows a strong opposition by automakers of the proposed government plan to ban two-wheelers (below 150cc) and three-wheelers by 2023 and 2025, respectively The government seems to have softened its stance on the time frame for transition to electric vehicles (EVs). The Ministry of Heavy Industries,…
India readies plan for $4 billion Tesla-scale battery storage plants
India will need 6 gigawatt-scale plants of 10GWh each by 2025 and 12 by 2030 Apart from EVs, such battery storages will cater to the consumer electronics industry and electricity grids, given the intermittent nature of electricity from clean energy sources New Delhi: India is putting the final shape on…
Cash-strapped developers offer barter deals to construction firms
Builders offer unfinished apartments instead of cash to contractors as liquidity crunch hurts both parties Paradigm Realty has accepted 160 flats instead of cash in Zenith Residences project, Thane MUMBAI: Barter is back in fashion in real estate as cash-strapped developers offer unfinished apartments instead of cash payment to their…
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…
All parameters of Chandrayaan-2 for landing rover in lunar south pole normal: ISRO
In a giant leap for the country’s ambitious low-cost space programme, ISRO’s most powerful three-stage rocket GSLV-MkIII-M1 had launched the spacecraft into the Earth’s orbit on July 22 from the spaceport in Andhra Pradesh’s Sriharikota. Spacecraft parameters of India’s second moon mission Chandrayaan-2 aimed at landing a rover on the…
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…
MSME units should take benefits of Govt schemes: Shri. Nitin Gadkari
To implement the schemes of Ministry of MSME on large scale in Vidarbha the Union minister Road Transport and MSME Nitin Gadkari recently called P M Parlewar Director MSME-DI Nagpur to take the stock of implementation of various schemes. The Minister was informed about the various development schemes being implemented…
मोदी सरकार फक्त 59 मिनिटांत देणार 5 कोटींपर्यंत कर्ज, ‘या’ बँकांनी वाढवली कर्जाची रक्कम
सूक्ष्म, लघू आणि मध्यम (एमएसएमई) उद्योगांसाठी आता फक्त 59 मिनिटांत पाच कोटींपर्यंतचं कर्ज मिळणार आहे. नवी दिल्लीः सूक्ष्म, लघू आणि मध्यम (एमएसएमई) उद्योगांसाठी आता फक्त 59 मिनिटांत पाच कोटींपर्यंतचं कर्ज मिळणार आहे. एसबीआयसह पाच सरकारी बँकांनी कर्जाची मर्यादा वाढवली आहे. मोदी सरकारनं नोव्हेंबर 2018मध्ये एमएसएमई क्षेत्राला प्रोत्साहन देण्यासाठी या योजनेची…
‘महाउद्योग’ एमआयडीसीच्या व्यापारी मासिकाचे मुख्यमंत्री देवेंद्र फडणवीस यांच्या हस्ते प्रकाशन
मुंबई : महाराष्ट्र औद्योगिक विकास महामंडळाच्या वतीने प्रगतीचा आढावा घेणारे व्यापारी वृत्तपत्र, ‘महाउद्योग’ याचे प्रकाशन मुख्यमंत्री देवेंद्र फडणवीस यांच्या हस्ते करण्यात आले. यावेळी उद्योगमंत्री सुभाष देसाई, उद्योग विभागाचे अपर मुख्य सचिव सतिश गवई, मुख्यमंत्र्यांचे प्रधान सचिव भूषण गगराणी, महाराष्ट्र औद्योगिक विकास महामंडळाचे मुख्य कार्यकारी अधिकारी डॉ. पी. अनबलगन, ऑरिकचे सह…
Raksha Mantri approves participation of private sector industries apart from OFBs and DPSUs for RM’s Awards for exellence
In a major boost to the ‘Make in India’ initiative in Defence and Aerospace sector, Raksha Mantri Shri Rajnath Singh accords approval to allow Private Sector industry compete with Ordnance Factories and Defence Public Sector Units (DPSUs) for the prestigious Raksha Mantri’s Awards for Excellence. This is a significant departure…
Lucknow to host Asia’s biggest arms show ‘DefExpo’ in February 2020
NEW DELHI: The Defence Ministry has selected Lucknow to conduct Asia’s biggest defence exhibition in 2020. The state capital of Uttar Pradesh will conduct the 11th DefExpo from February 5th to 8th next year. Making it official the Ministry of Defence on Sunday tweeted, “The 11th biennial edition of DefExpo…
MSME credit jumps Rs 14.97 lakh crore in FY19; new portal in offing on lines of Amazon, Alibaba
Cabinet Minister Shri. Nitin Gadkari said that the government has decided to set-up a web portal within a month for products made by MSMEs similar to “what Alibaba has done to China’s growth and Amazon in the US.” Bank credit to MSME has risen from Rs 10.70 lakh crore during…
Commerce & Industry Minister Shri. Piyush Goyal for making GeM portal more simple to attract MSME players
Commerce and Industry Minister Shri. Piyush Goyal has directed officials handling public procurement portal GeM to make it more simple, less time consuming and attractive to attract vendors, especially from the MSME sector. The minister’s directive came during a meeting Thursday to review and formulate an action plan for Government…
MSME Schemes: Modernizing your business through Credit Linked Capital Subsidy Scheme for Technology Upgradation
Equipping the business with cutting-edge technology is essential to ensure you stay competitive in today’s industrial environment. Technology is an essential component of every successful business. Until and unless manufacturing is aided by technology, the product does not meet the standards of modern day customers and this negatively impacts the…
Nearly half of India’s exports came from MSMEs in FY19, up from 7.5% in FY18
Share of exports of products related to India’s micro, small and medium enterprises (MSME) during the year 2018-19 stood at 48.10 per cent as per the information from Directorate General of Commercial Intelligence and Statistics. The jump in the share has been impressive from the preceding year (FY18) when MSME…
शेतकऱ्यांसाठी मोठी बातमी! आता थेट बँक खात्यात येणार खतांची सबसिडी
केंद्रातल्या मोदी सरकारनं मोठा निर्णय घेत 70 हजार कोटी रुपये धान्याची सबसिडी थेट शेतकऱ्यांच्या खात्यात हस्तांतरित करण्यात येणार आहे. नवी दिल्लीः केंद्रातल्या मोदी सरकारनं मोठा निर्णय घेत 70 हजार कोटी रुपये धान्याची सबसिडी थेट शेतकऱ्यांच्या खात्यात हस्तांतरित करण्यात येणार आहे. सरकारनं यासाठी तीन नव्या टेक्नॉलॉजीवर काम सुरू केलं आहे. या…