Page 10 - Msme Sector

Sonia Gandhi writes to PM Modi seeking economic package for MSMEs

Gandhi emphasised that the MSME sector is suffering around Rs 30,000 crore loss every day due to the lockdown

31% apparel units to shut down, 2.5 mn jobs at risk due to lockdown: CMAI

A study conducted by the industrial body says job losses in the textile value chain could be a staggering 10 million

House panel opposes lay-off payment for workers during natural calamities

The Standing Committee has suggested that the government allow bigger companies to retrench workers, without the need to seek official nod from the government

PM Modi, Sitharaman to meet today to finalise second stimulus package

Friday's meeting follows a wide range of deliberations held within the government and with eminent experts.

70% firms expect degrowth amid coronavirus outbreak, says survey

The survey, which covered 380 firms across sectors, portrayed that most of the respondents want tax relief, demand creation and ease of compliance from the government.

Business optimism for April-June quarter falls to record low: Report

The Dun & Bradstreet Composite Business Optimism Index stood at 49.40 per cent for Q2 2020 (April-June), a record low and worse than during the 2009 financial crisis.

What migrant labourers say in lockdown: 'work can wait, family cannot'

In the last few days, the restlessness of the migrant workers has spilled into the streets in major cities, including Mumbai, New Delhi, and Surat.

Covid-19 lockdown 2.0: Need govt support to keep units open, say MSMEs

On Tuesday, MSME Minister Nitin Gadkari had stated during a meeting that unpaid dues of MSMEs at the central and the state levels will be released at the earliest.

Idling trucks, staff shortage: Bottlenecks for industries amid lockdown

Close to 3.5 million trucks (along with their drivers and assistants) are off the road - some because of manpower shortage, and some because they are stuck in various parts of the country.

Covid-19 crisis: PM, FM to finalise details of second stimulus package soon

The stimulus package is expected anytime this week and will again be aimed at the urban and rural poor; disadvantaged sections of society; MSME sector; and some of the worst-affected sectors

ICRA pegs GDP contraction at 10-15% in Q1 amid lockdown extension

Earlier, ICRA had expected GDP to fall by 4.5 per cent in the first quarter when lockdown was for 21 days till April 14.

Coronavirus impact: Confusion, despair grip MSME cluster in Okhla

A sense of hopelessness pervades the streets in Delhi's Okhla, with row of parked trucks and an ominous silence

NBFC association to RBI: One-time loan restructuring need of the hour

FIDC has asked the central bank to extend the facility to all customer loans

ADB pledges $2.2 bn to bolster India's health infrastructure, MSMEs

The ADB president on Friday called Finance Minister Nirmala Sitharaman to discuss the issue and assured support to India in its fight against the coronavirus disease

Govt unlikely to grant any package for industry to pay workers' salaries

"The government lacks the fiscal space. It will not be feasible to give grants to the industry to take care of its wage bills," sources said.

Coronavirus lockdown: Rs 1-trn stimulus package for MSMEs on cards

The new package aimed at MSMEs could include increases in the limits of bank loans for working capital needs, hiking threshold limits for availing of tax exemptions

Chemicals manufacturers brace for drop in revenues: CRISIL SME Tracker

SMEs account for 30-35 per cent of the industry (in value terms), and are clustered around Gujarat, Maharashtra and the Delhi-NCR region.

Letter to BS: SMEs need govt's large-heartedness to survive pandemic

With the 21 days complete lockdown announced by the prime minister, the outbreak will hopefully subside but the economic impact will be far more damaging and lasting

Covid-19 impact: MSMEs require support to survive, says industry expert

Over 22% of the over 75 Million MSME's units in India will be shut if the lockdown in cities extends beyond 4 weeks and a staggering 43% will shut shop if the panic extends beyond 8 weeks

PSBs stare at tough quarter over coronavirus and higher provisioning

Slimmer chances of recovering Rs 20,000 cr from Bhushan Steel resolution in the near future add to lender's woes