Skip to main content

MSME.....GOVERNMENT OPENS DOOR FOR THE DEVELOPMENT, REVIVAL AND REHABILATATION

For facilitating the promotion and development and enhancing the competitiveness of MSMEs, the Ministry of MSME vide Gazette Notification No. 750(E) dated 29.07.2016 had notified the MSME Development (Furnishing of information Rules, 2016) under which all MSMEs are to furnish information relating to their enterprises online to the Central Government in the data bank maintained by it at www.msmedatabank.in. 
        The MSME Outreach Programme initiated by the Government gave 12 new decisions for MSMEs which will enhance their credit access: 
  1.  59-minutes loan sanction portal 
  2.  Computerised random allocation for inspection 
  3. Loan option for GST registered firms will be available through  the GST portal itself 
  4. Cash flow certainty 
  5. Interest  concession on loans for MSME exporters to be raised to 5% from 3% 
  6. Quick loan access 
  7. Mandatory for PSUs to procure up to 3 per cent from MSMEs led by women. 
  8. Trade receivables and e-discounting systems
  9. Government will set up pharma clusters for MSMEs 
  10. Government e-Marketplace platform procurement will be mandatory 
  11. Relaxation in environmental rules 
  12. Relaxation in labour laws  

Comments

Post a Comment

Popular posts from this blog

TAX REGIME…need to understand for better Tax Planning

 Now the Tax season has been started, and before filing ITR one must understand about the Tax Regime for The better tax planning. Before filing ITR one, must calculate and compare Tax and effect on both the resime. Following car, some key points for understanding about the Tax resime Tent, it’s implications. *Key Points to Remember for Tax Regime from AY 2024-25 Onwards* 1. Default Tax Regime:    - The default tax regime is the New Tax Regime under Section 115BAC. If you wish to opt for the Old Tax Regime, you must specifically select it in the ITR form. 2. ITR 1 and ITR 2 Filers:    - You can choose either the Old or New Regime while filing your ITR.    - No need to file Form 10IEA for opting into the Old Tax Regime for AY 24-25 or for opting out of it from AY 25-26 onwards. 3. ITR 3 and ITR 4 Filers:    - To select the Old Tax Regime for AY 24-25, you must file Form 10IEA.    - If you wish to opt out of the Old Tax Regime from AY ...
3 comments
Read more

NBFC.....THE FORMAL WAY TO DO FINANCE BUSINESS

  NBFC…THE FORMAL WAY OF DOING FINANCE BUSINESS IN INDIA…….KNEE OF OVERALL FINANCE BUSINESS WHY NBFC: It’s a formal way of doing finance business in India , not as a bank but not less than Bank. The rapidly-growing Indian economy has provided the biggest & profitable opportunity to Non-Banking Financial Companies (NBFCs) in creating a niche for themselves in recent years. The NBFCs do not hold banking licenses but they offer almost every service that banks do including accepting deposits, offering loans, performing financial intermediation, offering cash advances, leasing, hire purchases, etc. In a thickly populated country like India, mainstream banking services are not capable of fulfilling the financial needs of all the citizens. Owing to this fact, the NBFC has been able to carve a space for itself by making inroads into the country. NBFCs have grown at a remarkable pace in the last decade as a consequence of their customer-friendly approach, great flexibility, ...
1 comment
Read more

TEXTILE POLICY 2024....Roadmap For New Growth Story

MULTIPLE INCENTIVES AND BENEFITS ANNOUNCED TO BOOST TEXTILE SECTORS FOR ACHIEVING NEW HORIZONS IN THE TEXTILE SECTOR KEY HEIGHLIGHTS OF THE POLICY: Capital subsidies : New industrial units can receive capital subsidies ranging from 10% to 35% of their eligible fixed capital investment (eFCI), up to a maximum of ₹100 crore. The subsidy amount is based on factors like location, activity, and employment levels.   Payroll assistance : Female workers receive ₹3,000 to ₹5,000 per month, while male workers receive ₹2,000 to ₹3,000 per month.   Training support : Workers receive ₹5,000 per month for three months.   Credit-linked interest subsidy : Businesses can receive an interest subsidy of 5% to 7% of their eFCI for up to eight years.   Power tariff subsidy : Units that use power from distribution companies or renewable power for five years receive a subsidy of ₹1 per kWh.   Quality certification : Textile units receive assistance f...
2 comments
Read more