Tag: Small and Medium Enterprises

Union Cabinet approves ₹10,000-cr SME growth fund to boost manufacturing

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Union Cabinet approves ₹10,000-cr SME growth fund to boost manufacturing

Image used for representation purpose only. | Photo Credit: Getty Images/iStockphoto The Union Cabinet on Tuesday (October 6, 2026) approved the proposal by the Ministry of Finance to commit ₹10,000 crore of central government funding for the setting up of a Small and Medium Enterprises (SME) Growth Fund in line with a proposal in Budget…

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PhonePe partners with SIDBI, MSME Ministry to increase small business formalisation and provide credit

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PhonePe partners with SIDBI, MSME Ministry to increase small business formalisation and provide credit

Founder and CEO of PhonePe Sameer Nigam speaks during the launch of the Udyam Assist Portal program, in New Delhi on September 10, 2025 | Photo Credit: ANI PhonePe will work with the Ministry of Micro, Small and Medium Enterprises (MSMEs), and the Small Industries Development Bank of India, to register more small merchants with…

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Beyond tax cuts, a closer read of the Union Budget

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Beyond tax cuts, a closer read of the Union Budget

‘The Budget’s policy announcements and fiscal plans need closer scrutiny’ | Photo Credit: ANI The Union Finance Minister, Nirmala Sitharaman’s presentation of the Union Budget on Saturday, February 1, was against the backdrop of pressing macroeconomic challenges — persistently high taxes and unemployment squeezing the middle-income class, subdued private investment, mounting external vulnerabilities that threaten…

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Textiles sector should address issues related to cost competitiveness: Economic Survey

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Textiles sector should address issues related to cost competitiveness: Economic Survey

Photo used for representation purpose only. | Photo Credit: The Hindu Lack of localisation and complexity of the Indian textile value chain result in higher costs for Indian exporters in the textile sector, relative to global competitors. India’s textile production occurs across multiple independent and clustered Small and Medium Enterprises (SMEs) spread across the country….

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Banks to identify MSME stress before turning their accounts to NPA

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Banks to identify MSME stress before turning their accounts to NPA

A worker operates a machine inside a small scale manufacturing unit in Mumbai. File | Photo Credit: Reuters The Supreme Court has held that banks or creditors are required to identify the incipient stress in the account of the Micro, Small and Medium Enterprises (MSMEs), before their accounts turn into non-performing assets. A Bench headed…

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Budget 2023 | Revamped credit guarantee scheme for MSMEs to be implemented from April 1

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Budget 2023 | Revamped credit guarantee scheme for MSMEs to be implemented from April 1

The revamped credit guarantee scheme for Micro, Small and Medium Enterprises (MSMEs) will take effect from April 1, through infusion of ₹9,000 crore in the corpus, said Union Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023. “This will enable additional collateral-free guaranteed credit of ₹2 lakh crore. Further, the cost of the credit…

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