Heena Sharma Blog

Micro, small and medium enterprises (MSMEs) across the country are keeping a wary eye on the government's decision to allow select manufacturing units to reopen on April 20. While MSMEs in most sectors have welcomed the latest move, they argue that lack of financial support from the government might result in these firms not running even if they manage to reopen. The Confederation of Indian Industry (CII) has recommended focus primarily on increasing the financing available to MSMEs with relaxed collateral norms, an extension of the RBI moratorium and wage support. It also suggested expediting fund of funds for MSMEs which has been under the government's consideration and augmenting the assets of MUDRA Bank. Read More

Micro, Small and Medium Entreprises (MSME) players in the country have called for urgent measures by the government, such as extension of deadline for filing GST, among others, to help the industry survive. K E Raghunanthan, past president of All-India Manufacturers Organisation and an MSME owner for the past 35 years, said that the sector had expected some steps to be announced in the Prime Minister's address yesterday. Pointing out that the corporate sector had received various tax benefits in recent times, he said the Ministry of Corporate Affairs (MCA) had even extended the deadline for them to hold board meetings. "MSME and traders are hand-to-mouth fellows, and there is no revival chance for us," Raghunanthan added. "The last 10 days of the financial year are very crucial for any entrepreneur. Today is the last day for GST filing and we haven't got Form 2A uploaded by our suppliers. We have not been able to raise as many invoices as we should ha...

With the spectre of slowdown haunting the economy and rising unemployment, Prime Minister Narendra Modi on Wednesday constituted two new Cabinet committees under his chairmanship to spur economic growth and investmentb and employment. The five-member Cabinet Committee on Investment and Growth includes Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Road Transport and Highways and of MSME Minister Nitin Gadkari and Railway Minister Piyush Goyal. Another 10-member Cabinet Committee on Employment and Skill Development has been formed as well. Listen to this podcast for more. Article Source -> Business Standard