MSME data will help policy-making, finds economic survey
5 months ago

MSME data will help policy-making, finds economic survey

Deccan Chronicle  

Chennai: Improving the availability of data regarding the health of MSMEs will help policy-making, finds the Economic Survey. Updated IIP, production and employment data of MSMEs, information on credit disbursement, and industry-wise financial flows are some of them. Further, there should be information on industry-wise gross disbursement of bank credit as opposed to the data on outstanding credit currently available, and industry-wise monthly gross financial flows through domestic and external equity and debt. Employment-intensive MSME segments should be incentivized, a single-window mechanism made available for clearances, grassroots-level facilitation to ensure market access to MSME products and government-industry-academia collaboration to upskill the workforce. From February 2024, the government has made provision to provide Rs 20 lakh credit for registered micro enterprises under credit guarantee scheme without primary security and with 85 per cent guarantee coverage and a reduced annual guarantee fee.

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History of this topic

India: Govt Plans New Financing for MSMEs
2 weeks, 4 days ago

India: Govt Plans New Financing for MSMEs

Deccan Chronicle  

New Delhi: The Modi-led NDA government is open to exploring some alternate financing models for micro, small, and medium enterprises where the concerned ministry can earmark particular areas in the proposed industrial townships for the MSMEs. The statement of the government comes at a time when small business houses in the country are reportedly facing specific issues in accessing bank …

India: MSMEs Need Boost in Credit Access: Assocham
3 weeks, 4 days ago

India: MSMEs Need Boost in Credit Access: Assocham

Deccan Chronicle  

New Delhi: In order to boost credit access for small and medium businesses in the country, India Inc on Thursday called for enhancing the role of banks and other financial institutions to reach them and address their challenges. Leading industry body Assocham in collaboration with Egrow Foundation, conducted an in-depth study on 'MSMEs facing challenges with a quantitative data of …

Nirmala Sitharaman Says MSMEs Will Get Collateral Free Loans Of Up To Rs 100 Crore Via New Credit Model
Trending News
1 month, 1 week ago

Nirmala Sitharaman Says MSMEs Will Get Collateral Free Loans Of Up To Rs 100 Crore Via New Credit Model

ABP News  

Union Finance Minister, Nirmala Sitharaman, on Saturday said that a new credit assessment model by public sector banks will be rolled out soon. This model will help the Ministry of Micro, Small and Medium Enterprises get collateral-free loans of up to Rs 100 crore. Speaking at the National MSME Cluster Outreach Programme in Bengaluru, the FM said that the problems …

AP Chambers thanks state for financial aid to revive flood-hit businesses
3 months ago

AP Chambers thanks state for financial aid to revive flood-hit businesses

Deccan Chronicle  

VIJAYAWADA: The Andhra Pradesh Chambers of Commerce and Industry Federation has thanked the state government for taking prompt initiatives to support the business enterprises that were severely impacted on account of the devastating floods in Vijayawada. The AP Chambers has expressed its gratitude to Chief Minister N. Chandrababu Naidu for announcing financial support of Rs 25,000 each for small business …

‘MSMEs took ₹999 cr. from NSIC VC Fund till July’
3 months, 1 week ago

‘MSMEs took ₹999 cr. from NSIC VC Fund till July’

The Hindu  

Micro, small and medium enterprises have taken ₹999 crore investments till July this year from the NSIC Venture Capital Fund, which has a corpus of ₹10,000 crore as ‘mother fund’, according to the National Small Industries Corporation. P. Ravi Kumar, chief general manager of the National Small Industries Corporation, said in Coimbatore on Tuesday that as part of the Self-Reliant …

MSMEs still out of mainstream institutional credit, shows survey
4 months ago

MSMEs still out of mainstream institutional credit, shows survey

Deccan Chronicle  

Hyderabad: In a downturn when tighter monetary conditions affect governments and companies, small and medium sized businesses bear brunt as the resultant delay in bill payments squeezes these enterprises financially. Though several measures were taken by the government and the Reserve Bank of India, micro, small and medium scale enterprises are perennially starved of institutional credit. Though the government has …

Budget Opens More Avenues of Credit For MSMEs
4 months, 4 weeks ago

Budget Opens More Avenues of Credit For MSMEs

Deccan Chronicle  

Chennai: Realising their potential in job creation, the Budget has formulated a package for MSMEs providing credit guarantees, new assessment criteria, and support during times of stress to spur growth and improve their competitiveness. The government has proposed a Credit Guarantee Scheme for MSMEs in the manufacturing sector, which will facilitate term loans to MSMEs for the purchase of machinery …

MSMEs get special attention in budget
5 months ago

MSMEs get special attention in budget

Hindustan Times  

Finance minister Nirmala Sitharaman announced a revival package for the MSME sector that will include enhanced Mudra loans of up to ₹20 lakh, a collateral-free credit guarantee scheme to help purchase machinery and equipment, and a new assessment model to help unlisted enterprises access bank credit, among other measures. Sitharaman announced that the Union Budget provides “special attention to MSMEs …

Union Budget gives a leg-up to MSMEs, manufacturing sector
5 months ago

Union Budget gives a leg-up to MSMEs, manufacturing sector

The Hindu  

The Union Budget for 2024-2025 has a package of support measures for the Micro, Small and Medium-scale Enterprises and the labour-intensive manufacturing sector. We have formulated a package covering financing, regulatory changes, and technology support for MSMEs to help them grow and also compete globally,” said Finance Minister Nirmala Sitharaman. The budget proposes a credit guarantee scheme that will work …

MSMEs continue to face challenges in formalisation and accessing credit: Economic Survey
5 months ago

MSMEs continue to face challenges in formalisation and accessing credit: Economic Survey

The Hindu  

The Micro, Small and Medium-scale Enterprises face challenges, including issues with formalisation and inclusion, limited access to finance, markets, technology, and digitalisation, infrastructural bottlenecks, and skilling, according to the Economic Survey. “In the future, the development of new technologies, such as the Open Credit Enablement Network are expected to boost credit flow to the MSME sector, it mentioned in the …

Economic Survey 2023-24: States should reduce compliance burden of MSMEs
5 months ago

Economic Survey 2023-24: States should reduce compliance burden of MSMEs

The Hindu  

India's micro, small and medium enterprises continue to face "extensive regulation" and compliance requirements, apart from major bottlenecks in access to affordable and timely funding being one of the "core concerns", the Economic Survey said on July 22. Asserting that further reduction in the compliance burden for MSMEs will considerably improve their growth prospects, the Survey for 2023-24 tabled in …

Finance Ministry’s Latest Report Highlights 8% Industrial Growth Trajectory Fuelled by Make in India, PLI & MSMEs
10 months, 3 weeks ago

Finance Ministry’s Latest Report Highlights 8% Industrial Growth Trajectory Fuelled by Make in India, PLI & MSMEs

News 18  

The recently released ‘The Indian Economy – A Review’ by the Department of Economic Affairs, Finance Ministry, has revealed a notable surge in industrial growth, showcasing a likely 8% per annum growth trajectory for the triennium ending March 2024. The report attributes this growth to strategic government initiatives, particularly emphasizing the success of ‘Make in India’, the Production-Linked Incentive scheme, …

The Need to Bolster Institutional Low-Cost Credit to MSMEs
10 months, 3 weeks ago

The Need to Bolster Institutional Low-Cost Credit to MSMEs

News 18  

The Micro, Small and Medium Enterprises are critical to unlocking the potential of India envisioned under the ‘Make in India’ campaign. The Parliamentary Standing Committee on Finance, in its report titled ‘Strengthening Credit Flows to the MSME Sector’, exposes the fact that less than 40 per cent of MSMEs avail credit from formal financial systems, and therefore depend on costly …

98 MSMEs to bring in investments totalling ₹1,583.80 crore in Thoothukudi and 5,717 people to get direct jobs: Kanimozhi
1 year ago

98 MSMEs to bring in investments totalling ₹1,583.80 crore in Thoothukudi and 5,717 people to get direct jobs: Kanimozhi

The Hindu  

Ninety-eight medium, small and micro enterprises have evinced interest in setting up their units in Thoothukudi district bringing investments totalling ₹1,583.80 crore, said MP Kanimozhi Karunanidhi. She said that all the 98 units would provide jobs to 5,717 people. The other units, which had signed the MoU, are expected to set up food processing, matches, modern rice mills, chemicals and …

Start Your Business With Govt Aid Under PMEGP Scheme, All You Need To Know
1 year, 7 months ago

Start Your Business With Govt Aid Under PMEGP Scheme, All You Need To Know

News 18  

If you have had a lifelong dream of turning into an entrepreneur but have lacked the resources to arrange investment capital, a central government scheme is here. The Prime Minister’s Employment Generation Programme encourages prospective entrepreneurs to launch their businesses. The Ministry of Micro, Small, and Medium Enterprises manages the Prime Minister’s Employment Generation Programme, a sort of credit-linked subsidy …

Govt Working Relentlessly To Ensure Conducive Environment For Small Businesses: MSME Secretary B B Swain
1 year, 9 months ago

Govt Working Relentlessly To Ensure Conducive Environment For Small Businesses: MSME Secretary B B Swain

News 18  

The government is relentlessly working towards ensuring a conducive environment for micro, small and medium enterprises, and the number of registered MSMEs has now reached 1.64 crore generating 10.73 crore jobs, said MSME Secretary B B Swain on Wednesday. The figure of 10.73 crore employment generated is based on self-declaration by MSMEs and the sector is surely on its way …

MSMEs banking high on AP’s New Industrial Policy
1 year, 9 months ago

MSMEs banking high on AP’s New Industrial Policy

Deccan Chronicle  

Vijayawada: The Micro, small and medium enterprises are having high expectations from Andhra Pradesh government’s New Industrial Policy, which is likely to be announced during the ensuing Global Investors Summit. Coinciding with this, MSMEs are urging the state government to set up industrial clusters over 100–1,000 acres in areas of the state that have good transport connectivity and provision of …

Sitharaman to meet heads of banks on Feb 22; on credit scheme for MSMEs: Report
1 year, 10 months ago

Sitharaman to meet heads of banks on Feb 22; on credit scheme for MSMEs: Report

Hindustan Times  

The finance ministry has called a meeting of heads of public sector banks and top four private sector lenders to review the progress of the emergency credit line guarantee scheme to help businesses affected by COVID-19. ECLGS was announced as part of the Atmanirbhar Bharat Package in May 2020 with the objective to help businesses including MSMEs to meet their …

Micro enterprises want govt to constitute a dedicated ministry
1 year, 10 months ago

Micro enterprises want govt to constitute a dedicated ministry

Deccan Chronicle  

Chennai: Micro enterprises, which dominate the MSME space in terms of numbers, have asked the government to constitute a separate ministry for them in order to get better focus and support. In the Mega MSME Survey conducted by the Consortium of Indian Associations and participated by 1,08,500 enterprises, 44 percent were micro-enterprises or those below Rs 1 crore annual turnover. …

Govt to launch revamped credit guarantee scheme worth Rs 9,000 cr for MSMEs, says FM
1 year, 10 months ago

Govt to launch revamped credit guarantee scheme worth Rs 9,000 cr for MSMEs, says FM

Firstpost  

New Delhi: A revamped credit guarantee scheme for MSMEs with an outlay of Rs 9,000 crore will be launched from 1 April, Finance Minister Nirmala Sitharaman said on Wednesday. An integrated IT portal will be launched for reclaiming unclaimed shares and dividends, she said, adding the government would also set up a single window system for registrations and approvals in …

Govt to launch revamped credit guarantee scheme worth Rs 9,000 cr for MSMEs: FM
1 year, 10 months ago

Govt to launch revamped credit guarantee scheme worth Rs 9,000 cr for MSMEs: FM

Deccan Chronicle  

New Delhi: A revamped credit guarantee scheme for MSMEs with an outlay of Rs 9,000 crore will be launched from April 1, Finance Minister Nirmala Sitharaman said on Wednesday. An integrated IT portal will be launched for reclaiming unclaimed shares and dividends, she said, adding the government would also set up a single window system for registrations and approvals in …

MSMEs in Coimbatore demand measures to increase fund availability
1 year, 10 months ago

MSMEs in Coimbatore demand measures to increase fund availability

The Hindu  

Industries, mainly the Micro, Small and Medium-Scale Enterprises in Coimbatore district, have appealed to the Union government for measures that will give financial boost as markets have slowed down and fund availability for the units has taken a hit. President of Indian Chamber of Commerce and Industry, Coimbatore, B. Sriramulu said that since the export markets are facing a slowdown, …

Govt taking steps to make Indian MSMEs stronger, globally competitive: Minister
2 years ago

Govt taking steps to make Indian MSMEs stronger, globally competitive: Minister

India TV News  

Delhi: Micro, small and medium enterprises are among the most important pillars of India's economy and the government is working to make the sector stronger and more developed, Minister of State for MSME Bhanu Pratap Singh Verma said on Monday. "We will also work to ensure that interrelationship between the MSME sector and other important pillars of the Indian economy …

Credit to MSMEs gathers pace, but needs a tech push
2 years, 2 months ago

Credit to MSMEs gathers pace, but needs a tech push

Live Mint  

Bank credit to micro, small and medium enterprises has fluctuated for most of the pandemic. Traditionally, public sector banks led credit disbursement to MSMEs, with a 50% share prior to 2019. iPhone sales in India headed for another record IT companies likely to slash campus hiring in FY24 What lies next for India’s shaky exports story Marico’s Q2 update fails …

49,608 MSMEs registered in State: Minister
2 years, 3 months ago

49,608 MSMEs registered in State: Minister

The Hindu  

As many as 49,608 micro, small, and medium enterprises have registered in the State till Wednesday, Minister for Industries P. Rajeeve has said. Replying during Question Hour in the Assembly on Wednesday, the Minister said the year 2022-23 was being observed as the ‘Year of Entrepreneurship,’ and the target was to start one lakh MSMEs this financial year. “As part …

MSME sector records credit growth of 14% in 2022-23, says SBI Research report
2 years, 4 months ago

MSME sector records credit growth of 14% in 2022-23, says SBI Research report

Firstpost  

SBI Research said in its weekly report ‘Ecowrap’ that the sector has expanded by Rs 52,800 crore against degrowth of Rs 61,000 crore during the similar period of the previous year New Delhi: Credit growth to the Ministry of Micro, Small & Medium Enterprises sector has expanded by Rs 52,800 crore in the current financial 2022-23 year against degrowth of …

42,699 MSMEs registered in first four months of current fiscal
2 years, 5 months ago

42,699 MSMEs registered in first four months of current fiscal

The Hindu  

As many as 42,699 micro, small and medium enterprises registered in the State in the first four months of the current fiscal, Minister for Industries P. Rajeeve said. This has helped create 92,855 employment opportunities, Mr. Rajeeve said launching a State-level loan scheme for entrepreneurs formulated by the State Level Bankers' Committee in association with the State government. The State …

Innovations can plug the growth capital gap of MSMEs
2 years, 5 months ago

Innovations can plug the growth capital gap of MSMEs

Live Mint  

India has over 7.9 million micro, small and medium enterprises, as of 27 March 2022, as reported by the MSME Ministry. The credit gap translates into a ‘growth capital gap’, especially for innovative and high-growth MSMEs seeking a radical pivot in their business models or overseas expansion. While RBI will need to make it mandatory for all MSMEs and large …

Credit demand of MSMEs at 85 pc of pre-Covid levels
2 years, 6 months ago

Credit demand of MSMEs at 85 pc of pre-Covid levels

Deccan Chronicle  

Chennai: Credit demand from micro, small and medium enterprises is about 85 per cent of what it was prior to the pandemic. The credit demand had come down to 94 per cent of the pre-Covid levels during the first wave of the pandemic. This further slipped to 85 per cent during the second and even in March 2022 after the …

T.N. Budget 2022-2023: About 48% jump in allocation for MSMEs
2 years, 9 months ago

T.N. Budget 2022-2023: About 48% jump in allocation for MSMEs

The Hindu  

The Tamil Nadu Budget for 2022-2023, presented on Friday, has hiked the allocation for Micro, Small and Medium-scale Enterprises Department by almost 48%. Micro cluster development With a view of helping micro enterprises’ clusters, the Tamil Nadu government would launch a new “Micro Cluster Development Programme”, Finance Minister Palanivel Thiaga Rajan said in the State Legislative Assembly in Chennai on …

Steps should be taken in Budget to ensure hassle-free credit to MSMEs: PHD Chamber
2 years, 10 months ago

Steps should be taken in Budget to ensure hassle-free credit to MSMEs: PHD Chamber

Deccan Chronicle  

New Delhi: Steps should be taken in the upcoming Union Budget to ensure hassle-free credit availability to industry, particularly for MSMEs, and reduce the costs of doing business, said Pradeep Multani, President, PHD Chamber of Commerce and Industry. PHD Chamber President suggested for extension in the timeline of the Emergency Credit Line Guarantee Scheme for another year till 31st March …

Top 5 government business loan schemes in India in 2022
2 years, 11 months ago

Top 5 government business loan schemes in India in 2022

India Today  

The Government of India initiates various schemes and policies to bring a change in the economic condition of the country. Here is the list of the top 5 government business loan schemes in 2022: Top 5 government business loan schemes in 2022: MSME Loan Scheme The loan was introduced by the Government of India focusing on the working capital loan …

World MSME Day: 5 Govt-Backed Loan Schemes for SMEs, MSEMs in India
3 years, 5 months ago

World MSME Day: 5 Govt-Backed Loan Schemes for SMEs, MSEMs in India

News 18  

The small-scale business sector, also known as Small and Medium Enterprises sector, contributes around 40% to the total GDP of India. Here are the schemes offered by the government – MSME government business loan scheme – The Government of India launched this scheme as a working capital loan, and an MSME can get a loan sanctioned of Rs. MUDRA business …

91 lakh guarantees issued till Jan 25 under ECLG scheme: Nitin Gadkari
3 years, 10 months ago

91 lakh guarantees issued till Jan 25 under ECLG scheme: Nitin Gadkari

Live Mint  

MSME Minister Nitin Gadkari on Monday said under the Emergency Credit Line Guarantee Scheme, around 91 lakh guarantees have been issued till January 25 this year. In a written reply to the Rajya Sabha, he said during the current financial year, a total number of 31,923 units were setup under the ongoing Prime Minister Employment Generation programme and 5,21,746 guarantees …

3.16 cr MSMEs registered in India between July 2020 and Dec 4, 2023: Govt to Rajya Sabha
4 years, 2 months ago

3.16 cr MSMEs registered in India between July 2020 and Dec 4, 2023: Govt to Rajya Sabha

ANI News  

New Delhi, December 11 : A total of 3,16,05,581 Micro Small and Medium Enterprises were registered in India between July 1, 2020, and December 4, 2023, the Central government told the Rajya Sabha on Monday. In response to the query of Independent MP Kartikeya Sharma, the Minister further said the total number of women-owned MSMEs registered from July 1, 2020, …

Credit guarantee extended to larger firms, self-employed
4 years, 4 months ago

Credit guarantee extended to larger firms, self-employed

The Hindu  

The Centre has expanded its credit guarantee scheme for micro, small and medium enterprises to cover loans given to larger firms, as well as to self-employed people and professionals who have taken loans for business purposes, Finance Minister Nirmala Sitharaman said on Saturday. ₹87,000 crore disbursed So far, banks have approved ₹1.36 lakh crore worth of loans to 40 lakh …

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