-The Indian Express On October 30, at the meeting of the Financial Stability and Development Council chaired by Jaitley and attended by Urjit Patel among others, the central bank is learnt to have downplayed the issue of liquidity crunch. While the Reserve Bank of India said two weeks ago that there is no sign of a liquidity crunch, its own latest data shows that banks’ credit outstanding to the Micro, Small and...
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SJM opposes move to change definition of MSMEs
-The Hindu Business Line New Delhi: The Centre’s proposal to change the definition of Micro, Small and Medium Enterprises (MSMEs) has been opposed by the Swadeshi Jagran Manch, a Rashtriya Swayamsevak Sangh affiliate that deals with economic issues. In February, the Centre decided to revise the definition of MSMEs on the basis of turnover instead of the existing methodology of classifying them as per cost of plant and machinery. To give effect...
More »7 lakh 'lose' jobs in khadi industry, but production goes up by 32% -Radheshyam Jadhav
-The Times of India Are people working in khadi industries leaving their jobs in droves? The official figures seem to suggest so. Data recently provided by the ministry of micro, small and medium enterprises to the Lok Sabha shows that the number of people employed in the khadi sector fell from 11.6 lakh to 4.6 lakh between 2015-16 and 2016-17. A closer look suggests that at least some of this may be...
More »Fabindia sued for Rs 525 crore by Khadi commission for using the 'khadi' tag 'illegally'
-PTI The Khadi and Village Industries Commission (KVIC) has sent a legal notice to Fabindia, a chain of ethnic wear retail outlets, demanding a whopping Rs 525 crore in damages for 'illegally' using its trademark 'charkha' and selling apparels with the 'khadi' tag. The KVIC, according to the legal notice, has also threatened to launch legal proceedings against Fabindia Overseas Pvt. Ltd. if it does not desist from displaying the trademark...
More »Punjab industry gives thumbs down to Arun Jaitley's Union Budget -Mohammad Ghazali
-Hindustan Times The industry termed it a populist budget to reap electoral gains. Ludhiana: The industry in Ludhiana found nothing to cheer about in the Union Budget presented by finance minister Arun Jaitley on Thursday. Industrialists and traders from across the city, often called the Manchester of India, were expecting tax relief and sops for micro, small and medium enterprises. President of the Federation of Industrial and Commercial Organization Gurmeet Singh Kulhar said...
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