Nirmala Sitharaman launches National MSME Cluster Outreach …
4 days ago · The Union Finance Minister set the target for all Scheduled Commercial Banks and NBFCs for providing additional MSME credit of Rs. 1.54 lakh crore in the current financial year. Thus the banks and NBFCs should aim at total credit growth of Rs 5.75 lakh crore, Rs. 6.21 lakh crore and Rs 7 lakh crore to MSMEs in Financial Year 2024-25, …
MSME delayed payments: Only 20% complaints ... - The Financial …
1 day ago · MSME delayed payments: Only 20% complaints disposed so far, shows govt data ... Your weekly dose of news, views, and updates from the world of micro, small, and medium enterprises .
45-day payment rule: New fund will work with banks to help MSME …
Jul 28, 2024 · Finance Minister Nirmala Sitharaman revealed that the government is establishing a new fund to help MSMEs facing financial issues due to delayed payments. Traders must now clear MSME bills within 45 days according to Section 43B (h) of the Income Tax Act.
Supreme Court Rules MSME Promoters Can Now Submit …
Nov 4, 2024 · The court ruled that the date for assessing eligibility under Section 240A should be the date of submission of the resolution plan, allowing MSME promoters to participate actively in the insolvency resolution process even if the MSME certification was obtained after the CIRP commenced. By affirming this stance, the Supreme Court reinforces the ...
45-day MSME payment rule comes into effect on April 1
Income Tax rule that bars businesses from claiming tax deductions for payments beyond 45 days to MSMEs for supply of goods and services will come into effect today (April 1). New MSME payment...
What is an MSME? Read MSME latest news - The Economic Times
The MSME ministry, under Jitan Ram Manjhi, has focused on women empowerment, technology, employment, and regional development in the first 100 days of Modi 3.0. Key initiatives include increased credit guarantee for women entrepreneurs, the Yashasvini campaign, PMEGP support for new enterprises, and new technology centers in Bokaro and Leh.
How MSMEs are driving India's $5 Trillion ascent in a shifting …
May 19, 2024 · India's thriving ecosystem of SMEs is a monumental force in the global economic landscape, contributing nearly a trillion dollars to our nation's prosperity. As we set our sights on the horizon...
MSMEs confident about India’s economy in 2024, project spike in …
Jan 12, 2024 · The second edition of the NeoInsights study – ‘MSME Business Confidence Study’ for the year 2024, highlighted that MSMEs in the wholesale/trading sector are leading the charge on economic optimism, with a resounding 95% expressing confidence in India's robust growth trajectory for 2024.
World Bank Approves $500 Million Program to Strengthen …
The $500 million Raising and Accelerating Micro, Small and Medium Enterprise (MSME) Performance (RAMP) Program is the World Bank’s second intervention in this sector, the first being the $750 million MSME Emergency Response Program, approved in July 2020 to address the immediate liquidity and credit needs of millions of viable MSMEs severely ...
Timely payment to MSMEs rule to be enforced from April 1
Mar 5, 2024 · “According to the Finance Act 2023, companies need to make payments to the MSME sector within 45 days, which is slated to come into effect from April 1, 2024, else the companies cannot claim deductions on it,” a senior finance ministry official told Moneycontrol.