-The Hindu Business Line Micro and small loans as on March 2022 grew by 21.5 per cent to ₹4,95,281 crore from ₹4,07,675 crore as on March 2021 The advances to Micro, Small and Medium Enterprises (MSMEs) are growing at a good pace, as banks are turning liberal in sanctioning loans. The data pertaining to the fourth quarter ended March 31, 2022 as well FY22 show increase in MSME advances compared to previous year,...
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Inflation Spiral is Hitting the Working Poor the Hardest -Sanjay Roy
-IPA News Service/Newsclick.in Time is ripe to do away with every central cess on petroleum products and reject the government’s narrative that the poor are hurt less by higher prices than the rich. The country is in the grip of an inflationary spiral resulting in a galloping price rise of all essential goods used by people. This crushing price burden is making life exceedingly difficult for the rural and urban poor. The retail...
More »Lack Of Updated MSME Data Hampering Timely Funds Disbursal -Animesh Singh
-NDTV.com One of the biggest roadblocks in providing adequate and timely funds to MSMEs is the non-availability of reliable and consolidated data about them Though government runs a host of schemes to support micro small and medium enterprises (MSMEs), which have faced the maximum brunt of the Coronavirus-induced lockdown in 2020, providing them timely and adequate funds becomes a roadblock, a fact which has been acknowledged even by the Finance Ministry. Funds are...
More »Upper-caste businesspersons own 61.8% of micro, small and medium firms in India: Government data
-Scroll.in Entrepreneurs from the Scheduled Caste category own 6.8% of these enterprises, while those in the Scheduled Tribe category own just 2.1% of them. People belonging to the general category own 61.8% of all the micro, small and medium enterprises in India, The Hindu reported on Wednesday, citing government data. The Mandal Commission, which looked into the question of Other Backward Class reservation, has defined general category as groups that are “socially and...
More »OBC entrepreneurs own nearly 30% of India’s MSMEs -T Ramakrishnan
-The Hindu Around 41% of OBC-owned units are located in Tamil Nadu, Maharashtra, and Rajasthan. Chennai: Other Backward Classes (OBC) own nearly 30% of micro, small and medium enterprises (MSME) in the country. As on March 31, 2022, the number of MSMEs owned by OBCs was 23.31 lakh units, out of a total of about 80.16 lakh units in the country. Of the OBC-owned units, around 41% are located in three States —...
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