For MSMEs the transition could mean higher wage bills and tougher compliance -- unless strong handholding follows reports Auhona Mukherjee.
About 85 per cent of the digital payment transactions take place through UPI in India, and the country can be a case study in inclusive, secure, and scalable Digital Public Platforms (DPPs), Reserve Bank Governor Sanjay Malhotra has said. He was speaking at a "High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms" organised by RBI on the sidelines of the Annual Meetings of the World Bank and International Monetary Fund in Washington, DC on Tuesday.
Jio Platforms Limited is likely to have a valuation of $148 billion by the time it goes public on the back of strong free cash flow and potential deleveraging, ICICI Securities said.
US-based retail giant Walmart will connect one lakh more MSMEs in the next three years to its supplier development programme in India, a company official said here on Thursday. The programme, Walmart Vriddhi, has partnered with Ideas to Impact Foundation (i2i), which will enable more MSMEs to expand their access to both national and international markets, helped by the combined strengths of Walmart's global supply chain and Flipkart's e-commerce capabilities.
'Now we have one of the best asset qualities in the industry.'
'The dakiyas will be our partners, receiving credit proposals from micro-enterprises at the grassroots level.'
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
The Ministry of Micro, Small and Medium Enterprises (MSME) has received "positive" feedback from industry regarding the 45-day payments cycle for MSMEs, according to a senior official familiar with the matter. The comment assumes significance amid concerns raised by some MSMEs that big companies may stop buying from small and medium suppliers and instead choose to make purchases from unregistered enterprises.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
'On the road, you see only youth in Swiggy, Big Basket and Zomato uniforms.' 'Just now, I had a delivery from Amazon, and do you know what his qualification was? He was an engineering graduate!' 'The Ola driver who took me to the airport had an MCom degree. 'Where is the match between education and employment?'
Over 100,000 small and medium-sized businesses are non-compliant with e-invoicing norms under the goods and services tax (GST) regime, a mandatory requirement for businesses with an annual turnover of over Rs 5 crore. E-invoicing provides real-time access to invoices that are prepared by the supplier on the purchase of goods, allowing faster accessibility to input tax credit, thereby limiting the manipulation of fake credit as it has to be generated before the transaction. "The default has been reported mainly in businesses with a turnover between Rs 5 crore and Rs 20 crore," a senior official informed
In her Budget 2023-24 presentation, she also said the Centre will launch the 'Dekho Apna Desh' initiative to promote domestic tourism.
The Positive Indigenisation List includes Rs 715 crore worth of high-end materials and spares, the import of which will be permitted only until a date specified for each. After each one's import deadline elapses, it will have to be procured from the Indian industry.
'When manufacturing or even services cannot generate the kind of employment they are looking for, they prefer to be unemployed rather than under-employed.'
the defence ministry told Parliament on Monday that foreign procurement in defence has risen to Rs 50,061 crore (Rs 500.61 billion) in 2021-2022 from Rs 37,030 crore (Rs 370.30 billion) in 2017-2018.
The gig economy can serve up to 90 million jobs in the non-farm sectors in India with a potential to add 1.25 per cent to the GDP over the "long term", a report said on Tuesday. The gig economy, where workers get hired typically for short durations, can lead to transactions of over $250 billion over the long term, the report by the consultancy firm BCG said. The firm said gig economy is not a new concept but has seen greater adoption following the advent of technology.
There has been 31 per cent liquidity expansion of banks from Rs 34,67,098 crore (Rs 34,670.98 billion) in March 2007 to Rs 45,28,277 crore (Rs 45,282.77 billion) in November 2008 following the RBI's steps to tackle the crisis.
"I took some time to explore the contours of this initiative. I don't use the term 'game-changer' too often but it's apt in this case. For me, what's much more important than the mechanics of the scheme is the dramatic shift it signals in the attitude towards industry," Mahindra said in a tweet.
'They are not tom-tomming what a great thing the Supreme Court decision is.' 'If they say it was a great thing, the public will react because people suffered and are still suffering.'
'...for at least 6 months and give them peace of mind to get back on their feet.' 'Entrepreneurs are suffocating and not able to run their companies peacefully.'
Mudra Bank being launched on April 8.
Long-term capital gains tax may be scrapped and the burden of dividend distribution tax could perhaps be shifted from companies to shareholders. Also, the Budget could provide income tax relief for the salaried classes, while proposing tax sops for small, medium and micro enterprises.
The BJP-led National Democratic Alliance released its manifesto for the February 20 Punjab polls on Saturday, promising a slew of sops for various sections, including 75 per cent reservation in all government jobs for youngsters from the state, an unemployment allowance, 35 per cent reservation for women in government jobs and massive infrastructure development.
If the country is to meet its jobs and income challenge, there has to be a parallel focus on jobs in the formal sector.
S&P Global Ratings on Wednesday said Indian banks face a systemic risk as the second COVID wave will impair the performance of financial institutions in the April-September period. Stating that economic recovery remains highly vulnerable to setbacks due to COVID, particularly if fresh outbreaks trigger new lockdowns, S&P said the banking sector's weak loans will likely remain elevated at 11-12 per cent of gross loans in the next 12 to 18 months. "The second wave has front-ended weakness in asset quality," said S&P Global Ratings Credit Analyst Deepali Seth Chhabria. "Financial institutions face a strained first half amid weak collections and poor disbursements."
Most industry players in Tirupur feel that though the idea of GST is good, the problems are largely due to its poor implementation. Refund delays, withdrawal of incentive schemes make Made-in-Tirupur products costlier by 10-15 per cent, say entrepreneurs.
The substantially increased economic dualism may exert lasting negative influences which could include a reduced potential for economic growth; the persistence of a very weak employment and poverty situation; rising social and political discord; and heightened vulnerability to geopolitical challenges, cautions Shankar Acharya, former chief economic adviser to the Government of India.
China's GDP jumped a record 18.3 per cent in the first quarter of 2021, riding on strong domestic and foreign demand and aided by recovery from a low base in early 2020 when Covid-19 stalled the world's second-largest economy, according to statistics released on Friday.
State Bank of India, India's largest lender, on Thursday slashed interest rates on working capital loans to micro, small and medium enterprises by 0.5-1 per cent effective from December 16.
Laxmi Sorte and Kaustav Ghosh are on a 101-day road trip across India to support and encourage local businesses affected by the pandemic.
Since 2014, the public sector banks' branch network in rural and semi urban has grown by a mere 4,000 while for private sector banks, it doubled from 9,673 to 18,437.
This would provide a major boost to the indigenous design and construction capability of submarines in India.
The situation could become more acute as millions of migrants who had returned to their villages during the lockdown come back to the towns for higher wages and better livelihoods.
'For Indian firms supplying global majors, coronavirus is both a threat and an opportunity.'
In the 2020-21 Budget, the prime minister and the finance minister are keen to stamp their narrative, after various rollbacks following the previous Budget, said top government sources. Besides the scheduled meetings, the sources said, the Prime Minister's Office is expected to hold several meetings with top secretaries and officials on various ongoing schemes, their performance and also how some of them could be tweaked for better results.
The plan includes step-wise expansion of a crucial credit guarantee net, establishment of an unprecedented number of functional clusters and increased government procurement from MSMEs.
'We have been telling the government that we need handholding.' So, we sent a series of recommendations to the government, but nothing happened.' 'And the condition of industry became worse.'
The biggest loss of jobs among salaried employees was of 'white-collar professional employees and other employees'. Among these are engineers including software engineers, physicians, teachers, accountants, analysts and so on, who are professionally qualified and are employed in some private or government organisation All the gains made in their employment over the past four years were washed away during the lockdown, reveals Mahesh Vyas.
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