Page 9 - Msmes

Finance ministry cracks the whip on insurance companies for ignoring MSMEs

Reluctant insurers have failed to offer the cover especially curated by the ministry following the UK Sinha panel's recommendations

NSE, SIDBI sign MoU to test feasibility of debt capital platform for MSMEs

The entities signed a memorandum of understanding (MoU) for co-operation in various ongoing micro, small and medium enterprises (MSMEs)-related initiatives of the two institutions

PM Narendra Modi urges banks to lend to start-ups and MSMEs amid Covid-19

Calls for effective participation of public sector in banking and insurance

Gadkari urges MSMEs to avail concessional finance and install rooftop solar

Union minister Nitin Gadkari on Friday invited MSMEs to avail concessional debt finance to install rooftop solar for business efficiency. The Minister for Micro, Small and Medium Enterprises (MSMEs) and Road Transport & Highways said rooftop solar offers an excellent value proposition to MSMEs by significantly bringing down cost of electricity consumption, which on an average, is up to one-fifth of their operations cost. Addressing a programme virtually, Gadkari said, "I believe there is a strong business case for MSMEs to install rooftop solar and achieve significant savings to achieve the cost-competitiveness. I am confident that MSMEs will stand together in generating and consuming solar power using their rooftops." The minister observed that a large amount (average Rs 8 and higher per unit) is being paid by the MSMEs for power consumption, which contributes to up to one-fifth of the overall production costs. "To assist MSMEs in implementing rooftop solar projects, the ministry

Centre announces Rs 15,000 crore PLI for pharma, IT hardware sectors

Pharma scheme aims at Rs 3 trillion incremental sales, 100,000 jobs; experts say hardware scheme to help India become electronics manufacturing hub for the world

Small loans, big stakes: Why MSMEs are banking on fintech lenders

Speed and flexibility to cater to a wider segment of small borrowers are tilting market in their favour

Indian Bank, IISc-run society join hands to fund start-ups and MSME

Society for Innovation and Development (SID) will identify start-ups and MSMEs based on their credentials and refer the list of such members that require financial assistance to the bank

Factory reset: Surat's textile hub weaves a revival story amid Covid-19

Severely affected by the pandemic, the businesses have made a spectacular comeback

Factory reset: Okhla MSMEs limp back, garment units still ailing

Export logistics are troubling many industries. While some are facing container shortages, others are looking at increased freight costs in key markets

Govt may consider effect on industries before imposing duties

In her Budget speech, the finance minister said, "MSMEs and other user industries have been severely hit by a recent sharp rise in iron and steel prices

Public, private sector banks disburse loans worth Rs 1.42 trn under ECLGS

About Rs 1.98-trillion loans have been sanctioned by the banks to MSMEs, Parliament was informed

Best of BS Opinion: Lessons from GameStop, Covid-19 vaccine, and more

Here's a selection of Business Standard opinion pieces for the day

Revoking of CVD, ADD to hurt earnings of domestic stainless steel industry

"Traders are expected to stock up cheap imports creating huge inventories in the coming months ahead of an anticipated demand boom in the sector," said an official of a large stainless steel firm

Chinese steel mills may gain from customs duty cut announced in Budget

The cut has failed to rein in prices, as domestic steel mills raised flat steel prices by about Rs 1,500 a tonne after the announcement

MSMEs seeking factoring credit should get ratings: Parliament panel to govt

There is often delay in MSMEs getting payment against their bills for supplying to various buyers

Budget a booster shot for India, has ambition, resolution and innovation

It was one of the toughest times in history to announce a budget, writes Harsh Goenka.

Govt reduces customs duty on certain steel items to provide relief to MSMEs

The government looks to provide relief to MSMEs which have been hit hard by high cost of raw materials

Govt provides Rs 15,700 crore for MSME sector in Union Budget 2021

Union Finance Minister Nirmala Sitharaman has made a provision of Rs 15,700 crore for the Ministry of Micro, Small and Medium Enterprises (MSME) sector in the Union Budget 2021-22."We have taken a number of steps to support the MSME sector in this budget. I have provided Rs 15,700 crore more than double the previous year," said Sitharaman while presenting the Union Budget in the Parliament."Financial Inclusion: To further facilitate credit flow under the scheme of Stand Up India for the Scheduled Caste and Scheduled Tribes and also women, I propose to reduce the margin money requirement from 25 per cent 15 per cent only and to also include loans for activities in allied activities in agriculture," the Finance Minister added.The Union Budget 2021-22 proposals rest on six pillars: Health and well-being, physical and financial capital and infrastructure, inclusive development for aspirational India reinvigorating human capital, innovation and R & D, minimum government and maximum ...

Budget 2021: Rahul Gandhi demands support to MSMEs, farmers, workers

Ahead of the presentation of the Union budget, Congress leader Rahul Gandhi on Monday said it should provide support to small and medium enterprises, farmers and workers, and generate employment

Budget Byte: Banks' non-performing assets likely to bulge in 2021

This daily series of graphs provides context to some of the critical issues relating to the Union Budget on February 1