Not the right time to attract large investments in Punjab: ASSOCHAM
The Dollar Business Bureau ASSOCHAM Secretary General D S Rawat said on Thursday that this is not the appropriate time to attract ‘large investments’ in Punjab as there is lack of demand and exports are still low. “This is not the right time to attract large investments as nobody will be able to invest because the demand is missing and exports are not picking up, said Rawat after releasing the Agenda for Punjab Government 2017 in Chandigarh. “Therefore, we have to promote innovativeness in order to improve competition in the state,” he added. However, he said, the investment can be done only in small-scale industries. The entrepreneurs would get a chance to grow from a small scale-to-medium industry and from medium scale-to-large. They can ...
Jewellers over Rs.12 crore turnover liable for 1% excise: FinMin
Source: PTI Finance Ministry said provisions have been made for easy compliance through use of online application for registration, payment of excise duty and filing of returns, with zero interface with the departmental officers. "An artisan or goldsmith who only manufactures jewellery on job-work basis is not required to register with the Central Excise, pay duty and file returns, as all these obligations will be on the principal manufacturers," the statement said. For determination of eligibility for small scale industries exemption for the month of March or fiscal 2016-17, a certificate from a Chartered Accountant, based on the books of accounts for 2014-15 and 2015-16 respectively, would suffice. Also, facility of Optional Centralised Registration has also been provided. "Thus, there is ...
MSME Min focuses on encouraging entrepreneurship
The Ministry had recently launched a new scheme of ASPIRE to set up a network of technology and incubation centre to accelerate entrepreneurship and start ups for innovation Source: PTI An amount of Rs.6 crore to be provided by the Ministry to Nagaland for setting up of Khadi Plaza The Ministry of Micro Small and Medium Enterprises (MSME) will help the state in its efforts towards encouraging entrepreneurship and enhancing competitiveness of the sector in the changed economic scenario, Union Minister Kalraj Mishra said on Friday. The minister who was inDimapur to inaugurate the North East Region conclave on MSMEs said the conclave would help in evaluating the performance of schemes as implemented by the Ministry as well as to interact with the ...
Level-playing tax policies need of the hour for MSMEs
Execution of GST will put an end to complex taxation practices reducing transaction costs and making the system tax-payer friendly for MSMEs, says Confederation of Indian Industry Sai Nikesh | The Dollar Business CII recommends reduction of Central Sales Tax (CST) rate to 1% till GST is implemented In line with government’s initiatives aimed at improving manufacturing activity in the country, the Indian industry has been keen on promoting Micro Small and Medium Enterprises (MSMEs), which form the core part of any industry. In this regard, various industry bodies have been pitching on the need to extend incentive and skill-based support to small-scale industries. Ahead of Union Budget 2016-17 release on Monday, the apex industry body- Confederation of Indian Industry ...
Curbs on steel imports need to be seen with a broader perspective
Sai Nikesh | The Dollar Business In contrast to the government’s moves towards imposition of anti-dumping duties on steel imports into the country, the small-scale firms are concerned over curbs on steel imports into the country. Steps being taken by the government aimed at protecting domestic steel makers, especially the larger ones, from flood of cheap imports could end up closing scores of small, local firms that process the metal, said the industry analysts and executives, according to the news sources. These processors currently buy imported steel at up to 20% below India's pricier, domestic steel, turning it into finished steel products for industrial use, added the reports. Speaking to The Dollar Business on the issue, one of the sources from Indian ...
Exporters body demands clear cut policy for MSME sector, promote exports
Himanshu Vatsa | The Dollar Business The government should come up with a “clear cut” policy for the micro, small and medium enterprises (MSME) sector, to encourage small-scale industries to boost exports, the Delhi Exporters Association said. The exporters’ body has already submitted its demand to the government in this regards. "The government should come out with a clear cut policy to encourage exports from India, including exports on manufacturing basis, especially for MSME products and those from tiny/cottage industry sector," the association said in a press statement. “Actually, the government is too slow when it comes to action and implementation. In 2002, we were promised a separate export corridor by the previous UPA government. But nothing has been ...
'Make in India' to open new avenues in defence manufacturing sector
The Dollar Business Bureau Taking inspiration from Prime Minister Narendra Modi’s 'Make in India' campaign, a number of experts from Defence Industry will explore new avenues for private players in the sector. To deliberate the issue of ‘Make in India’ in defence sector, the Army Institute of Management and Technology (AIMT), Greater Noida will organise a day-long seminar at its campus on May 9, 2015. The seminar – 'Make in India Made Easy- Opportunities and Challenges for Defence Sector' — will bring together an array of experts from the industry, academia and policy makers, a government statement said on Tuesday. Representatives from Defence Ministry, army, corporate sector and business schools will share their views on how to leverage on ‘Make in ...
