You do not need a degree in accountancy or economics to run your business, but financial literacy is the need of the hour.
'Need to increase employment potential, without that economy cannot go ahead'
It will not be a quick ‘V’ shaped recover for most businesses, but a slow, long-drawn process.
Top trade bodies shared this observation at a webinar organised by Confederation of All India Traders (CAIT) on plans of expansion of the ban Chinese products campaign.
AASU stated that the ordinance will alienate indigenous people from their land. The supporters of AASU on Thursday burnt copies of cabinet decisions in different places except in Kamrup (Metro) which is under lockdown.
This programme will address the immediate liquidity and credit needs of some 1.5 million viable MSMEs to help them withstand the impact of the current shock and protect millions of jobs.
Bold reforms will be needed if India has to make its position as the next best alternative.
Udyam Registration can be filed online based on self-declaration with no requirement for documents of proof, barring Aadhar, as per the notification issued by the MSME ministry. Udyam Registration has also been fully integrated with the IT and GST systems.
States are in dire need of money and the Centre can help them by paying GST revenue in advance and clearing all the pending dues of states and MSMEs, Naushad Forbes, past president of CII said.
CEAI represents the Indian Engineering Consultancy professional at the FIDIC. Its membership comprises practicing consultants, private and public sector firms. It has 300 members.
To tackle the humongous level of unpaid dues, the Trade Receivable Discounting System (TReDS), an online bill discounting platform, was meant to be the answer. Six years after its launch, the platform may have come up woefully short.
The state government had released the first installment of Rs 450 crore in May this year during the lockdown.
According to TU Cibil analysis, 28% of the MSMEs have a CMR between 1 to 3 which makes them super-prime borrowers and the least likely to default.
Minister for consumer affairs, food and public distribution, Ram Vilas Paswan, has directed officials to ensure that any item made in China is not purchased through the Government e Marketplace (GeM) or other sources.
Food processing minister Harsimrat Kaur Badal said the scheme will be implemented for five years until 2024-25. It will generate investment of Rs 35,000 core, generate 900,000 jobs and help 800,000 units, she said.
As part of this initiative, the company will offer MSMEs free access to its B2B marketplace Ariba Networks till the end of this year.
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