A Reserve Bank of India (RBI) study said that demonetisation negatively affected the credit growth of the Micro Small and Medium Enterprises (MSME) sector. The implementation of the Goods and Services Tax (GST) did not greatly affect the overall credit to MSMEs. The RBI conducted the study to assess the credit
Tag: MSME News
GST Council forms GoM to Address MSME Issues
As per Finance Minister Piyush Goyal’s statement after the 29th GST Council Meet, the GST Council, under the aegis of the Ministry of Finance, has constituted a Group of Minister (GoM) for Micro Small and Medium Industries. Minister of State (MoS) Finance, Government of India, Shiv Pratap Shukla is the convener
MSMEs set to get more procurement orders from NALCO
Micro, Small and Medium Enterprises (MSMEs) will soon get an increase in procurement orders from Nalco. Nalco Ltd Chairman and Managing Director T K Chand said that the company will increase procurement of materials from the MSME from the current INR 400 crore to INR 1,200 crore. Chand said that with
President Inaugurates One District One Product Summit
President Ram Nath Kovind inaugurated the “One District One Product” Summit in Lucknow, Uttar Pradesh. The president told the audience that Micro, Small and Medium Enterprises (MSMEs) are the backbone of the country’s economy, and is the second largest employer after the agricultural sector. He added that the MSMEs offer more
MSME Sector gets some relief as Lok Sabha Passes GST Bills
Government Puts Forth 4 GST Amendment Bills to Help MSMEs
KASSIA against changing MSME Definition
[vc_row][vc_column][vc_column_text] The Karnataka Small Scale Industries Association (KASSIA) has told the centre that it is against changing the definition of the Micro Small and Medium Enterprises (MSMEs) . Regarding the government’s move to change the definition of the MSMEs, KASSIA President Basavaraj Javali acknowledged the need for scientific definition of MSMEs ,
MSMEs Issues To Be Resolved by GST Council-formed Committee
[vc_row][vc_column][vc_column_text]The Goods and Services Tax (GST) Council held its 29 th meeting in New Delhi last Saturday (4 August). Piyush Goyal, assuming charge as finance minister in place of the indisposed Arun Jaitley, chaired the meeting. He stated that the GST Council would form a committee to look into the
MSME and AYUSH Ministries Join Hands for Traditional Medicine Enterprises
[vc_row][vc_column][vc_column_text]TThe ministries of Micro, Small and Medium Enterprises (MSME) and AYUSH have teamed up with a mission to develop enterprises in the traditional medicine sector. An official statement said that the Memorandum of Understanding (MoU) would facilitate cooperation through the agencies and programmes both the ministries for developing AYUSH businesses in