The big cities have been covered and the roll-out in tier-II towns has begun. The aim is to reach out to 1,100 women by the end of 2013
Overseas Indian Affairs Minister Vayalar Ravi was today given additional charge of ministries of science and technology, earth sciences and micro, small and medium enterprises following ill health of Vilasrao Deshmukh.
Deshmukh, who is Science and Technology Minister, was given additional charge of the Ministry immediately after Virbhadra Singh resigned in the wake of a Himachal Pradesh court framing corruption charges against him in a 23-year-old case in June, this year.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
There are three proposals in the union budget 2013-14 that stand out with respect to start ups and MSMEs.
Also on agenda is rising credit flow to MSMEs & farm sector.
Micro, Small and Medium Enterprise Sector enormously contribute to the GDP of the country. The sector is characterised by low investment requirement, operational flexibility, location wise mobility, and import substitution.
Incubated at Aegis, the company finds its feet in the nascent India market for online printing, bustling with rivals from abroad & home.
Village panchayat unanimously passed a resolution declaring it would not allow the MNC to go ahead with its plans.
With the world's worst outbreak of COVID pandemic stalling a nascent economic recovery, the government has begun assessing the impact of the second wave of infections on different sectors and may look at providing support at an appropriate time to segments requiring fiscal help. Some of the economic indicators, including the Goods and Services Tax (GST) collections, still provide confidence and incoming data will throw some more light on the state of the economy, sources said. Services sectors like hospitality, tourism and aviation which had just started recovering were hit hard by the second wave of COVID, the sources said, adding these segments might need some support on an urgent basis from the government.
The meeting assumes significance as Swedish furniture retailer IKEA, which plans to invest Rs 10,500 crore (Rs 105 billion) to set up its own stores in India, had sought relaxation in certain conditions related to the mandatory 30 per cent sourcing from micro and small enterprises.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
It is also a reservoir for human labour in the state, producing hundreds and thousands of bodies who build the state's highways, run its small and medium enterprises (SMEs) and work its farms.
In fresh confrontation with Team Anna, Union Minister Virbhadra Singh on Sunday said he intends to file a criminal defamation suit against Arvind Kejriwal while Congress MP Jagdambika Pal has slapped a privilege notice against the activist for allegedly insulting Parliament.
Union Minister Nitin Gadkari said opening of transport and highways will go a long way in instilling confidence among the public and cautioned towards maintaining social distance and adopting all safety measures like hand wash, sanitizing, face masks, etc while operating buses and cars.
Rubbishing allegations of corruption against him by Team Anna, Union Minister Virbhadra Singh on Tuesday sought an unconditional apology from its key member Arvind Kejriwal for "maligning" his name, failing which he threatened to initiate legal action against him.
With Narayan Rane, the BJP looks to expand its footprint in Mumbai and Konkan. But a perceived self-goal by him may have galvanised the restive Shiv Sena cadre and voters to coalesce around their party. Dhaval Kulkarni reports
Unlike the earlier experience post the global financial crisis, where nearly 90 per cent of the restructuring happened in the corporate loans, the non-corporate segment, which includes small businesses, agricultural loans and retail lending, will account for a higher share this time.
Announcing the reduction in interest rate, SBI managing director and group executive (national banking) A Krishna Kumar said the base rate will also remain unchanged at 10 per cent.
SBI too rules out cut in base rate in short term, to launch concessional schemes.
Easy financing, including grant of tax exemption, being considered to provide early stage funding.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
The minister added that the exchanges should not be discouraged by the failure of past attempts at launching such a dedicated platform for small exchanges.
In the changed circumstances and attitudes in Britain, we must let bygones be bygones, argues Colonel Anil A Athale (retd).
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
Former Reserve Bank of India (RBI) Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track. The upcoming Budget for the fiscal year beginning April 1 should look to provide "relief to the poorer households and small and medium enterprises," he said. And then move on to getting the economy back on track.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
MSMEs contribute immensely to the industrial landscape of the country in terms of their 45 per cent share of manufacturing output and 40 per cent of exports.
Apex traders' body Federation of Indian Exporters Organisation (FIEO) on Friday demanded extension of the interest subsidy scheme to all sectors with a view to make them globally competitive.
"Foreign Direct Investment (FDI) will bring along backward integration and investment in farm to fork. States like Karnataka, Andhra Pradesh, Tamil Nadu will be able to move produce more efficiently across the country", Confederation of Indian Industry (Southern Region) Chairman T T Ashok said in a statement.
Auto-debit payment bounces have gone up for the second consecutive month in May, emphasising the stress building up due to a halt in economic activities as authorities lock down various parts of the country to stop the spread of the virus in the second wave. According to the National Automated Clearing House (NACH) data, in May, of the 85.7 million transactions initiated, 35.91 per cent, or 30.8 million transactions, failed.
In order to augment funds for SMEs (Small and Medium Enterprises), Finance Minister Pranab Mukherjee, in the General Budget 2012-13 presented in Lok Sabha, has proposed to exempt capital gains tax on sale of a residential property, if the sale consideration is used for subscription in equity of a manufacturing SME company for purchase of new plant and machinery.
Reacting to the announcement, MSME Minister Nitin Gadkari said clearing GST dues within 30 days will be highly beneficial for the MSME sector and will also be instrumental in increasing job opportunities.
Indian IT industry is all set to achieve its projected revenue target of $100 billion in 2011-12 and is projected to achieve revenues of $225 billion by 2020. This is an ambitious target that will require all the stakeholders in its eco-system to collectively innovate and catalyse growth.
While the COVID-19 pandemic has completely halted production and new orders, exporters say that payments have also been delayed for the shipments sent before the lockdown. Exporters say some customers are not taking delivery of the shipments because they have shut shop. Ready-made garment players had been hoping for a revival in demand in China but with the virus spreading to Europe, the US and other major markets, there are no orders coming from the major retailers.
The Congress, which is a junior partner in Trinamool Congress-led government in West Bengal, does not require the ally to stand on its own feet, West Bengal President Pradip Bhattacharya said on Wednesday.
Fresher hiring is expected to more than double compared to last year.
The RBI is scheduled to review its short-term lending rates on Tuesday, amidst apprehensions that it may not go in for interest rate cut even as the pause on the hikes may continue.
In less than two months since the announcement in March, the state has mobilised an armada of small and medium enterprises keen on making components for large equipment manufacturers.
The department, which carries out a number of searches against other high income sectors like real estate, manufacturing and sales, has for the time put its scanner on the sector which accounts for about 45 per cent of the manufacturing output of the country.
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