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6 January 2015,New Delhi.The Union Finance Minister Shri Arun Jaitley said that the Infrastructure Sectors such as coal, power and cement have been recording double digit growth in the last few months while growth in manufacturing sector is still patchy. He said that reviving manufacturing, diversifying its base and equipping it for robust long run
WTO backs remittance cost cut: Reduced transaction costs for trade and business can make Indian businesses more competitive, contributing to overall growth. Lower costs could incentivise formal money transfer channels, potentially reducing reliance on informal methods.
Addressing access to finance and mitigating delayed payments hold the key to MSMEs growth in the country, says Ravi Venkatesan, GAMEs founder.
The government has increased the budget for the Production Linked Incentive (PLI) scheme by 33% to Rs 6,200 crore and is reviewing the PLI for sectors like textiles, pharma, and food processing. The government has disbursed Rs 4,415 crore under the scheme for eight sectors, including electronics and pharma. Finance Minister Nirmala Sitharaman emphasized the importance of providing timely finances, relevant technologies, and training for MSMEs.
Industry body FISME has urged a revision of the Banking Ombudsman Scheme and removal of BLR ratings for MSMEs.