The challenges facing micro, small and medium enterprises (MSMEs) are being taken up in the party manifesto of the CPI party as a special package planned for protection and development of small scale industries, cottage industries and craft of artisans.
The party is also seeking the deferred recovery of small business loans until the economic slowdown improves.
Indian public sector banks will lend over Rs 13,000 in small business loans from January to March at rates under 10 percent. The government announced the new initiative as part of the country’s second ‘stimulus package.’
Additionally, the Reserve Bank of India will extend a Rs 7,000 crore line of credit to SIDBI (Small Industries Development Bank of India) before March 31 to provide loans to Indian small businesses. Out of the Rs 7,000 crore, about Rs 6,500 crore will be lent to public sector banks at a rate of 6.5 per cent. The rest of the funds will go to State Finance Corporations.
With economies of Europe and US are hard-hit by recession, SMEs in India has also witnessed decline in the last three quarters of 2008. The strong linkage with agricultural sector is one reason for micro, small and medium enterprises’’ (MSMEs) economic recession. But it would...
A new national level call-centre, named Udayami Helpline is about to be launched to help entrepreneurs of the country seek information and to redress their grievances. The call centre is given a single window model with a single toll-free number to serve entrepreneurs in India. U...
