Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

MSME Incentives Will Add Strength to the Sector: PM Modi

PM Modi had also announced that GST-registered MSMEs would get 2 per cent interest subvention or rebate on incremental loan of up to Rs 1 crore.


Updated:November 4, 2018, 9:59 PM IST
MSME Incentives Will Add Strength to the Sector: PM Modi
File photo of Prime Minister Narendra Modi.

New Delhi: Prime Minister Narendra Modi on Sunday said the measures announced by him for micro, small and medium enterprises will add strength to the sector.

He also said bigger markets and better opportunities for the Micro, Small and Medium Enterprises (MSMEs) was a "win-win" situation.

Modi had on Friday announced a slew of measures, including sanctioning of loans of up to Rs 1 crore to small and medium enterprises in 59 minutes, through a special portal to give a boost to the nation's second biggest employing sector.

Replying to a tweet by a user appreciating the steps, the prime minister said, Yes, it will add strength to the MSME sector.

Public sector companies which were mandated to source 20 per cent of their annual procurement from MSMEs will now have to source at least a quarter of their requirement (25 per cent) from the sector. Also, 3 per cent of sourcing by public sector undertakings (PSUs) should be done from MSMEs run by women.

Also, all central public sector enterprises (CPSEs) will have to take membership of the Government e-Marketplace (GeM) to facilitate online procurement of common use goods and services by various government departments and organisations.

Replying to another user who said the move to make GeM mandatory for all CPSEs was a major step in creating a level playing field for all manufacturers and traders, the prime minister said, Bigger markets and better opportunities for MSMEs is a win win.

Modi had also announced that GST-registered MSMEs would get 2 per cent interest subvention or rebate on incremental loan of up to Rs 1 crore.

Interest subvention on pre and post shipment credit for exports by MSMEs has been increased from three per cent to five per cent.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Padmaja Venkataraman
Read full article
Next Story
Next Story

Also Watch

Most Active
Company Price Change %Gain
HUL 2,070.15 2.78
RBL Bank 268.90 3.86
Maruti Suzuki 6,996.50 2.57
Indiabulls Hsg 190.55 -3.67
Infosys 769.60 -2.10
Company Price Change %Gain
Future Life 414.15 2.97
Indiabulls Hsg 190.55 -3.71
IRCTC 712.00 -2.28
BPCL 490.55 0.99
Maruti Suzuki 6,993.85 2.56
Top Gainers
Company Price Change %Gain
Eicher Motors 19,083.95 4.12
Hero Motocorp 2,694.50 3.27
Zee Entertain 250.10 2.96
HUL 2,070.00 2.77
M&M 583.65 2.64
Company Price Change %Gain
Hero Motocorp 2,695.25 3.30
HUL 2,070.00 2.74
M&M 583.50 2.64
Maruti Suzuki 6,993.85 2.56
Bajaj Auto 3,020.90 2.19
Top Losers
Company Price Change %Gain
JSW Steel 216.10 -2.42
Tata Motors 124.75 -2.42
Bharti Airtel 383.80 -2.48
Infosys 769.60 -2.10
Tata Steel 341.65 -0.93
Company Price Change %Gain
Bharti Airtel 384.30 -2.34
Tata Motors 124.75 -2.39
Infosys 769.85 -2.01
Tata Steel 341.60 -0.94
Vedanta 146.85 -0.68

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results