[vc_row][vc_column][vc_column_text]The Ministry of Micro, Small and Medium Enterprises (MoMSME) organised the “Swachchata Pakwada” from 16 th to 30 th June 2018 as part of the union government’s Swachch Bharat initiative. Upon completion of this cleanliness campaign, Union Minister of State (Independent Charge) Giriraj Singh presented the Swachhata Awards to the
Central News
Central Industry News
The Central News includes industry-news at the national level. This includes industry and finance policies put forth by the Government of India that would be applicable to all industries, including medium and small industries in Peenya. The Central News would be for the information and benefit of the industry members of the Peenya Industries Association.
The Central Industry News includes policies, statements, opinions by the finance and medium and small industries, and also chiefs of the industrial organisations at the national level, trends about industrial sectors from the point of view of their present situation. The Central Industry News also includes news articles about chiefs of trade and industrial associations sending their recommendations, opinion, memorandums, for the information of the members of the Peenya Industries Association.
Also, the Central Industry News would include news of a minister being allocated the small and medium industries portfolio, or formation of new government after the Lok Sabha elections.
Solution to SME Bad Loans Issue in Sight
[vc_row][vc_column][vc_column_text]The government is likely to get a plan for resolving bad assets in small and medium industries (SMEs) ready by October this year. Once the Reserve Bank of India (RBI) approves the Sunil Mehta committee report, the government would hasten the resolution of bad loans in the banking sector. Gross
International Companies Collaborating with Indian MSME Units
[vc_row][vc_column][vc_column_text]The Minister for Micro, Small and Medium Enterprises (MSMEs), Giriraj Singh has said that atmosphere of “ease of doing business in India” has been improving. Thus, international companies are taking the initiative to collaborate with the Indian MSMEs. This would help the MSMEs create high-quality products of international standards and create
RBI Eases NPA Classification Norms For MSMEs
[vc_row][vc_column][vc_column_text]The Reserve Bank of India (RBI) eased NPA classification norms for MSMEs facing input credit linkage and related issues. This has come as a major relief to the MSME sector. In a tweet, Financial Services Secretary Rajiv Kumar said that to continue support to MSMEs, the RBI has revised NPA recognition
Telecom Tower Industry In Need Of Massive Investment
[vc_row][vc_column][vc_column_text]The mobile telephony sector has witnessed massive change, such as exponential growth in data in mobile and arrival of new technologies. Thus, in order to keep pace, the tower industry in India requires a huge investment of INR 20,000 crores. Apart from the need for constant expansion in 4G mobile services,
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
Centralised AAR for GST
[vc_row][vc_column][vc_column_text]The union government plans to establish a centralised Authority for Advance Rulings (AAR) for the Goods and Services Tax (GST). This is in view of the different rulings on identical cases pertaining to GST, thereby leading to confusion about applicability and the tax rate. To quote a recent case as
PM’s Flagship Programme Under MSME Ministry
[vc_row][vc_column][vc_column_text] The Narendra Modi government completed four years in office. The Prime Minister’s Employment Generation Programme (PMEGP) has been one of its flagship programmes. Under this, the government offers credit-linked subsidy to businesses to establish new enterprises for generating continuous and sustainable employment opportunities in the rural and urban areas of
Government to Formulate New Electronics Policy Soon
[vc_row][vc_column][vc_column_text]IT Minister Ravi Shankar Prasad on 28 May 2018 said that the Digital India programme has become a “mass movement” and the government will soon finalise a new electronics policy to build on the momentum. The policy will also move forward to meet the ambitious goal of increasing the size of
National Small Industries Corporation (NSIC)
[vc_row][vc_column][vc_column_text]The National Small Industries Corporation (NSIC) is run by the Ministry of Micro, Small and Medium Enterprises (MSME) in order to nurture small and medium industries across the country. Businesses with investments more than INR ten lakh, but not exceeding INR five crore are categorised under small industries. In an ongoing