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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  

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