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Monthly rise in procurement and payments to MSMEs: Govt

-The Indian Express Total procurement and transactions from MSMEs has gone up almost two-and-a-half times in October to Rs 5,000 crore compared to Rs 2,300 crore in May. The Ministry of Micro, Small and Medium Enterprises (MSMEs) Tuesday said that there has been a monthly rise in procurement and payments to MSMEs, alongside a fall in the ratio of pendency of payments. The pending payments to MSMEs are around one-fifth against the...

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Is loan guarantee scheme serving the purpose? -Madan Sabnavis

-The Hindu Business Line MSMEs are using funds from the Emergency Credit Line Guarantee Scheme more to pay off earlier loans than as growth capital The Emergency Credit Line Guarantee Scheme (ECLGS) was one of the highlights of the economic package announced by the government in May, and it became operational on May 23. The scheme is basically a loan guarantee for all MSMEs which were operational as on February 29 with...

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Loan interest waiver to be credited by November 5

-The Hindu Scheme will be implemented even for borrowers who did not avail moratorium. Three weeks after informing the Supreme Court that the Centre would bear the additional compound interest on loans of up to ₹2 crore availed by retail borrowers as well as micro, small and medium enterprises (MSMEs), the government formally communicated the modalities of the scheme to lenders on Friday. Banks and other lenders, including co-operative banks and non-banking finance...

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MSMEs -- re-defined for growth -Surbhi Jain and Sonali Chowdhry

-The Hindu Business Line The expanded ambit now allows a larger pool of enterprises to get the benefits of the MSME Act and pandemic-induced reforms Micro, small and medium enterprises (MSMEs) are amongst the strongest drivers of the economy with a vast network of about six crore enterprises, contributing about 45 per cent to manufacturing output, 50 per cent to exports, around 30 per cent to GDP, and creating employment for about...

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Briefing Note for Parliamentarians on Labour Law Reforms

-Press release by Working Peoples' Charter dated 21st September, 2020 Amidst the micro and macro-economic crisis of the last 5 years, the union government has aggressively pushed the agenda of labour law reforms -- purportedly to simplify India’s ‘complex’ labour legislations, improve the business environment, and augment growth and employment. These changes, driven primarily by the business fraternity, have been aimed at improving India’s ranking in the ‘Ease of Doing Business’...

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