'Grassroots-level corruption, which disrupts the last-mile work, cannot be ignored in your enthusiasm and drive to get going to complete the project.' 'Like it was in MGNREGA, in some states, it is the case with the Jal Jeevan mission.' 'The last minute levels of corruption can ruin the intent of the project itself.' 'When you see that people can game a particular well-intended and well-crafted project, you need to correct that.'
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.
India's goods exports rebounded in July after two months of contraction, with outbound shipments rising 7.3 per cent to $37.24 billion, led by a surge in exports to the United States before the country's reciprocal tariff kicked in and bolstered by a recovery in exports to other key markets.
Patel was administered the oath as the 18th chief minister by Governor Acharya Devvrat at a function held at the Helipad Ground near the new Secretariat.
While the Narendra Modi government has stuck to its stand that pending payment is Rs 12,343 crore, MSMEs calim outstanding amount is Rs 2-3 trillion. Moreover, MSME ministry's SAMADHAN portal has been of little help.
'The finance minister said, the MSME is the backbone of the economy. My question is, what have you done for the sector?'
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.
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.
The stimulus package announced by the government for the revival of the pandemic-hit economy has been found to be "inadequate", according to a Parliamentary panel report. The report of the department-related Parliamentary Standing Committee on Industry on the impact of COVID-19 pandemic on micro, small and medium enterprises (MSME) sector has noted that in the process of economic recovery post-first wave of the pandemic, the second wave has even more vigorously ripped the economy particularly the MSME sector. "The committee observes that the stimulus package announced by the government for the economic revival from the pandemic hit economy has been found to be inadequate as the measures adopted were more of loan offering and long-term measures instead of improving the cash flow to generate demand as immediate relief," it said.
The proposal is being piloted by the nodal ministry of micro, small and medium enterprises which wants to ensure that all the KVIC products enjoy credibility.
A task force formed by Prime Minister Manmohan Singh on Thursday discussed steps to enhance credit to MSMEs, which contribute 45 per cent to the country's industrial production.
Highlighting the role of MSMEs in enhancing exports and helping the country achieve self reliance, Union Minister Nitin Gadkari on Monday said India does not need to import from China. "Already in automobile sector, in many sectors now, in agriculture, automobiles, everywhere, we have already found the solutions. Now we don't need to import from China," said the minister. He observed that India was exporting a lot of items instead of importing them.
The background work of creating a suitable digital architecture of a website also remains unfinished as it has been a challenge to shortlist technology partners.
Sources said the designers present in the meeting will submit their individual proposals shortly to the MSME ministry entailing suggestions to set up design centres.
While the meetings on Friday were preliminary discussions, it is learnt that sectors like tourism; hospitality; aviation; micro, small and medium enterprises (MSMEs); and livestock have sought deferring loan repayments and temporary tax holidays in specific cases to help them tide over the steep fall in economic activity.
Gadkari said that the MSME sector contributes significantly in pushing the country's economic growth and creating employment.
The minister said that the priority for him will be "rolling out all stuck highway projects that include many of the IL&FS projects within 100 days".
The government is considering to tweak FDI policy in retail sector so as to allow global chains like Walmart, Carrefour and Tesco to open multi-brand stores in non-hilly cities with population less than one million.
The top 10 in terms of the number of MSMEs is dominated by the larger states with Uttar Pradesh at the top.
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