Synopsis
West Bengal hosts the highest number of MSMEs in the country and they play a vital role in the state economy.
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Export bodies and organizations jointly have written to the state government for relaxation for their survival and export commitments.
KOLKATA: In the wake of the extension of COVID-19 induced restrictions till June 15 in West Bengal, the Small and Medium Enterprises and exporters have sought relaxation from restrictions for their survival.
West Bengal Chief Minister Mamata Banerjee on Thursday extended the ongoing COVID-19 restrictions till June 15.
SMEs have urged the chief minister that the extension of restrictions without amendments or relief will adversely affect the micro medium and small enterprises (MSME) of the state.
The second wave of Covid-19 has made economists less hopeful about India’s growth prospects.
At least four leading rating agencies have trimmed their GDP growth forecasts for India for the financial year ending March 2022. These agencies had initially estimated double-digit growth for the Indian economy due to a low base and revival of business activities in the country after the first wave of Covid in 2020.
For instance, Mumbai-based CRISIL, which had earlier pegged India’s economic growth for fiscal 2022 at 11%, has lowered its estimate to 8.2% in a worst-case scenario.
India’s Covid-19 struggles
These sharp revisions in estimates come at a time when India is grappling with record Covid-19 deaths and new infections. As of May 19, the new infections remain above the 250,000-mark. The pandemic-related deaths have also stayed above the 3,500-mark.
Sursa foto: garanti bank
The Black Sea Trade and Development Bank (BSTDB) is expanding its support for small and medium enterprises (SMEs) in Romania, through a leasing facility worth 20 million Euro towards Garanti BBVA Leasing, according to a press release from the bank.
The financing will allow the company to honor the request of Romanian SMEs regarding the acquisition of equipment, machinery and vehicles. The new loan is the third agreement inked by Garanti BBVA Leasing and BSTDB, Garanti BBVA Leasing being a trustworthy partner of the bank since 2014. BSTDB is keeping its commitment in supporting the Romanian leasing market and we are delighted to continue our partnership with Garanti BBVA Leasing. This new financing highlights the role of leasing as a flexible alternative to financing SMEs, helping them to overcome the economic slowing down and helping them recover, during a moment where the implications of a loan are still serious because of the pandemic. Moreover, this fi
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