Atma Nirbhar Bharat, UnionBudget2021 & Freelancers One of the first things Nirmala Sitharaman talks about the agenda of #Budget2021 is about building “Atma Nirbhar Bharat” Taking the Sankalp of #IndiaFirst, the Finance Minister quotes - “Ancient India was the business epicenter of the world, and Atminarbhar Bharat is the expression of 130 crore Indians who … Continue reading #Budget2021: AtmaNirbhar – Bharat & Freelancers
In part B of her speech, while presenting the Union Budget for the fiscal year 2021-22, Finance Minister Ms. Nirmala Sitharaman says that the digital budget focuses on the contraction in the economy due to the pandemic. Hence, it is designed to support the economy for sustainable growth. In the 75th year of independence, the … Continue reading #BUDGET2021: IMPACT ON INDIVIDUAL TAX-PAYERS
According to the Hurun Global Unicorn List 2020, India currently has 21 Unicorn startups that are collectively valued at USD 73.2 billion. By 2022, the number of unicorns in India might surpass 50. The USA has 233 unicorn startups, while China has 217 unicorns at present. They collectively account for 78% of the world’s unicorns. … Continue reading India’s Unicorn startups may exceed 50 by 2022
The Micro, Small and Medium Enterprises (MSMEs) have witnessed upto 2.5 times increase in the total procurements and transitions in October of Rs 5,000 crore compared to Rs 2,300 crore in May. The payments to MSMEs see a similar proportionate increase to approximately 80% in October from around 76% in May. In the last six … Continue reading Increase in Procurements and Payments to MSMEs
Minister of Micro, Small and Medium Enterprises (MSMEs), Nitin Gadkari referred to the sector as the ‘backbone of Indian Economy”. In these crucial times of COVID-19 pandemic and post pan India lockdown, the government is heavily relying on the MSME sector to climb out of the economic swamp. The government has taken several initiatives and … Continue reading MSMEs revival rests on Banks and Government, seeking for an action.
Launched on July 1, 2020, amidst the COVID-19 pandemic, Union MSME ministry’s new portal for MSME registration witnesses over 11 lakh registrations till now. Seeking help from its field establishments to help entrepreneurs register entities on the portal and execute the process for registration, including: National Small Industries Corporation, Khadi and Village Industries Commission, MSME-Development Institutes, Technology Centers, … Continue reading Govt’s Udyam portal witnesses over 11 lakh registrations
In the event of not achieving the targeted loan sanction amount of Rs. 3 lakh crore, the government is likely to extend the deadline of 31st October for the Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs. In place from May 23, as of now the ECLGS is open for the period till October 31 … Continue reading Higher Chances Of ECLGS Deadline Extension For MSMEs
A unique initiative, MSME Prerana is an online business mentoring programme for small business owners. A programme by the Indian Bank, a public sector bank, was launched by the Union Minister of Finance & Corporate Affairs, Nirmala Sitharaman, at the bank’s headquarters in Chennai. An integrated initiative with Poornatha & Co, MSME Prerana aims to … Continue reading ‘MSME Prerana’ – Indian Bank’s mentoring programme for MSMEs.
Amidst the COVID-19 crisis, Facebook has been focusing on providing business tools for the survival of small businesses. According to the data released by OECD and the World Bank, in India, more than one-third of the small and medium-sized businesses on Facebook are facing cash-flow problems. Facebook has a wide reach in India, almost every … Continue reading Facebook’s $4.3 million grant to support small businesses in India
In collaboration with the Indian Space Research Organisation (ISRO) & four other ministries, the government of India launched ARISE - Atal New India Challenges programme in order to support the small businesses and MSMEs. The step is in alignment with the vision of making India Aatmanirbhar and less dependent on the imports and products of … Continue reading GOI Launches 15 Challenges for Startups and MSMEs to Solve for a Grant of INR 50 Lakhs Each