Proposals for MSMEs in the Budget
Updated: Feb 01, 2018 07:00:03am
Proposals for MSMEs in the Budget
- Direct taxes growth at 12.6 per cent this year
- No. of tax payers increased to 8.27 crore from 6.47 crore
- Demonetisation celebrated by honest tax payers
- 41 per cent more returns were filed under the Presumptive Income Scheme
- 100% tax reduction available for FPOs turnover of Rs 100 crore
- Farmer producer companies with turnover of Rs 100 crore or more to get 100 per cent reduction under I-T Act for next 5 years
- Propose to extend tax relaxation up to 150 days to footwear and leather industry for employement creation
- Corporate tax to be reduced to 25 per cent for MSMEs with turnover of Rs 250 crore
- Rs 3,794 crore allocated for credit support to through capital and interest subsidy to Micro Small and Medium Enterprises
- Government to announce measures to ease NPA burden on MSMEs
- Online sanction of loans to MSMEs will be increased
- Use of fintech will help MSME to grow
- In 2018-19, to allocate Rs 3 lakh cr lending under MUDRA scheme. Targets crossed during the previous year
- Rs 3 lakh crore for MUDRA is a nearly 20 per cent rise from the last year when the allocation was Rs 2.44 lakh crore.
- Microfinance, unorganised sector pension schemes thru jan dhan yojana
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