In spite of MSMEs' immense contribution to the economy, successive governments have not really addressed the unique problems faced by MSMEs. Even today, access to formal lending and credit facilities remains a challenge.
Commerce and Industry Minister Piyush Goyal said that India’s exports will reach US$ 1 Trillion when India becomes a US$ 5 Trillion economy.
Finance Minister Nirmala Sitharaman reviewed the performance of banks on Monday in New Delhi in a meeting with the top management of Public Sector Banks, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and Citi Bank. RBI Deputy Governor N. S. Vishwanathan also participated in the review.
Small businesses still suffer overheads on account of GST compliance
Mumbai (Maharashtra) [India] August 05(ANI/BusinessWire India): Dr K V Srinivasan, Chairman, The Cotton Textile Export Promotion Council (TEXPROCIL) in a statement today stated that exports Cotton Yarn from India in the first quarter of April-June 2019 have fallen by a steep 33 per cent.
Finance Minister Nirmala Sitharaman has geared up to battle an ongoing slowdown of the Indian economy. In the first step to achieve that, the minister held a credit growth review meeting with PSU bank chiefs on Monday, to review growth of credit in sectors like retail, housing, auto, quasi-banks and MSME loans.