National policy for MSME to come out this year
The Dollar Business Bureau Ministry of Micro Small and Medium Enterprises (MSME) Minister Kalraj Mishra on Wednesday said the national policy for MSME, which is envisaged to boost the overall growth of the sector, will come out by the end of this year. Highlighting the two-year achievements of the MSME ministry, Mishra said his government has formed a one man committee, to complete all the recommendations by October 31, 2016. Mishra praised Prime Minister Narendra Modi for taking up schemes like MUDRA and Stand up India, which has significantly increased the number of MSMEs in the country. “The major achievement of the ministry is to come up with a Scheme of Revival and Rehabilitation of MSMEs. The scheme will start benefitting the MSMEs ...
Banking sector should grow four-fold to double GDP
The Dollar Business Bureau The Minister of State for Finance, Jayant Sinha, on Monday, said, India needs to turn into a US$ 4-5 trillion economy for accelerating and achieving a sustainable growth over the next decade, according to a Confederation of Indian Industry (CII) release. Stating that India’s present ‘tax to GDP ratio’ is the lowest among BRICS and OECD countries, Sinha called for an increase in the ratio from the current 15-16% to 20-25%. There is also a need for encouraging the private sources of finance to help the country in achieving a sustained and high GDP growth, he added. In this regard, Sinha stressed upon the need for creating private equity and venture capital market in India, while ...
