Tag: MSME Development

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MSME

Union Minister Nitin Gadkari Inaugurates Technology Centres, Extension Centres To Boost MSME Sector

Nitin Gadkari (Photo Credits: Facebook)

The government is undertaking various initiatives for the development of the MSME sector. Several projects and schemes have been launched to promote the welfare of various firms in the micro, small and medium sector. In lines with this, Union MSME Minister Nitin Gadkari has has inaugurated new technology centres, one at Visakhapatnam in Andhra Pradesh and other at Bhopal in Madhya Pradesh, three extension centres of big technological centres and seven mobile Udyam Express. These centres have been inaugurated to increase the e geographic footprint of Technology Centres network through future ready new Technological Centres with vertical as well as horizontal expansion to cover more states and regions, making its reach across the country. Udyam Registration Portal: GSTIN No Longer Mandatory for Registering MSMEs.

The Technological Centres and Extension Centre are expected to boost the micro, small and medium enterprises and people involved in the sector by providing an increased capacity of training and enhancing skills of around four lakh trainees, providing assistance to around one lakh MSMEs in terms of technological, skilling and advisory support. It has been undertaken to increase the competitiveness of various MSMEs in the country. It also aims for creation and registration of more firms under the MSME sector. It also tragets to improve and enhance employment generation capacity of various firms in the micro, small and medium sector. RBI Extends Deadline For Udyog Aadhaar Memorandum of MSME Registrations Till March 31, 2021.

At the virtual inauguration event of the new technological and extension centre, the Union Minister of Micro, Small and Medium Enterprises, Nitin Gadkari said, “if the country has to overcome three biggest problems of poverty, starvation and unemployment, then we have to create jobs.” He added, “the technological centres should have coordination, cooperation and communication with the local industries.” Gadkari said, “the country has huge potential for raw material, young and skilled manpower, government is ready to support all entrepreneurs and we need to take the cooperation of IITs, engineering colleges and successful persons in the society.” He emphasised on the need of integrated development.

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MSME

MSMEs in India: Govt Aims To Raise MSME Sector’s Share in GDP to 40% From the Current 30% To Benefit Rural Poor, Says Nitin Gadkari

Nitin Gadkari | File Image (Photo Credits: Facebook)

New Delhi, February 7: Union Minister Nitin Gadkari said on Saturday said that the government aims to increase the MSME sector’s share in the GDP to 40 per cent to benefit the rural poor. At present, around 6.5 crore micro, small and medium enterprises (MSMEs) contribute 30 percent to the GDP. While addressing a workshop at the Mahatma Gandhi International Hindi University at Wardha in Maharashtra, Gadkari emphasised that a policy has to be made to empower the poor.

The MSME Minister added saying that village industries and Khadi generate as much as Rs 88,000 crore on an annual basis. “We are not in favour of westernization, but we are in favour of modernization, in the villages. This is the time for socio-economic transformation”, Gadkari said. He said this can be increased if policy is flexible and innovative, and is aimed at improving the life of people living in villages. The minister also stressed that goods produced by village industries can be sold better if they are marketed better.

Gadkari stressed on the point that migration of as much as 30 percent of the country’s population from rural areas has taken place since independence due to lack of growth of the village economy. Gadakri recalled the philosophy of Mahatma Gandhi, Vinoba Bhave, Pandit Deendayal Upadhyaya, Ram Manohar Lohia and Jayaprakash Narayan and said that their aim was the same – to improve the lives of the poor living in villages. “Unless solutions are found to ensure that employment is generated in villages, and they are clean and have enough facilities, the dreams of these leaders will not be fulfilled”, he said.

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Finance

Narendra Modi Govt Clears Payments of Over Rs 6,800 Crore Owed to MSMEs Over Past 3 Months

रुपया
Money

In a bid to help the MSMEs, the Modi Government has been taking a series of measures. The government on Wednesday informed that the Central ministries and PSUs have cleared payments of over Rs 6,800 crore owed to micro, small and medium enterprises (MSEMs) in the last three months. It said almost three-fourths of the monthly dues have been paid during the same month by most of the ministries and CPSEs. The pending amounts are expected to be released in the normal course of business and within 45 days.

The MSME ministry, in a statement, said that “more than Rs 6,800 crore have been paid by the Ministries and CPSEs in the last three months alone”. Finance Minister Nirmala Sitharaman, as part of AtmaNirbhar Bharat package, had announced that Government entities should make such payments within 45 days. The Ministry of MSME followed up this announcement vigorously and took up the matter with the Central Ministries and Central Public Sector Enterprises (CPSEs) and State Governments. Particularly very active follow up has been done with the Heads of CPSEs.

The MSME Development Act of 2006 provides that such dues should be paid within 45 days. To make the reporting easy, regular and seamless, a dedicated online format has been made for reporting the monthly payments and pendency, the ministry said.

“However, it is seen that MSME suppliers of goods and services do not receive their due payments within stipulated time. Public and private entities do cross this time limit and hence they cause hardship to the MSMEs,” the statement said. According to a government release, the ministry also said close to 4 lakh registrations have already taken place on the Udyam registration portal for MSMEs since the new system was launched in July.