A reduction in the repo rate by the Reserve Bank of India (RBI) now seems like a done deal especially after the gross domestic product growth for FY19 came at a five-year low of 6.8%, with the fourth quarter growth at 5.8%. The case for an accommodative monetary policy is made stronger as retail inflation is below RBI’s mandated target of 4%.
Chennai, Jun 3 (Agencies): Hit by the triple whammy of delay in GST refunds, unfavourable forex and end of trade privilege to Indian firms, the micro, small and medium enterprises (MSME) sector wants the government to offer incentives in the upcoming Union Budget so that it can cope with the tough times.
Hyderabad: Member associations of South India MSME Joint Action Committee urged the central and state governments to extend support to MSME sector in accessing to low-cost funds.
Hit by the triple whammy of delay in GST refunds, unfavourable forex and end of trade privilege to Indian firms, the micro, small and medium enterprises (MSME) sector wants the government to offer incentives in the upcoming Union Budget so that it can cope with the tough times.
Gross Goods and Services Tax (GST) collections have stayed above the Rs 1 lakh crore mark for the third consecutive month in May. However, the mop-up so far for this financial year is lagging behind the required run rate by around Rs 13,500 crore.
The US decision to withdraw export incentives from India has been taken in a "haste" and would hurt the domestic exporters, industry chamber CII said on June 3.