Small businesses are hopeful that the forthcoming 2009 government budget will provide further financial relief. MSME believes a rationalization of taxes would give the industry a revitalizing shot in the arm.
Specifically, MSME wants tax holiday extensions for export-oriented units (EOUs) and software technology parks (STPs), benefits under Section 80-IA, and giving infrastructure status to social sectors such as health and education, according to a senior tax professional from Ernst & Young.
SMEs are small businesses, in their early stage of growth. They exercise little or less control over markets. They, during initial years, have to struggle with cash flow management leading to squeezed reserves and labor shortages which implies high wage costs. A rise in inflation...
The auto component Manufacturers’ Association of India (ACMA) revealed that the domestic auto component industry has pegged 20% growth in the year 2009-10. Its turnover remained US$ 22 billion. The reason for such growth has been the expansion activities undertaken by SMEs ...
