Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
22 June, 2018 12:45 IST
Government is working towards reducing the GST rates
Source: IRIS | 12 Jun, 2018, 03.06PM
Comments  |  Post Comment
 

Shiv Pratap Shukla, Minister of State for Finance, Government of India, stated that the GST Council is working towards rationalizing GST rates. He added that a big announcement from the Government regarding GST is imminent. He was speaking at the 7th edition of Delhi SME Finance Summit organized by the Confederation of Indian Industry (CII) held at New Delhi.

Hon'ble Minister for State stressed that government is working to promote the growth of SME. He recognized the importance of SME to the economy including in output, employment and exports.

The finance summit bridged the gap between SME borrowers who need capital to sustain or grow their businesses and lenders such as public and private banks, NBFC's and Fintechs. Live counters were put at the Summit and many soft approvals for loans were given to the SME Members of Delhi.

Rahul Chaudhry, Co-Chair, Committee on MSME, CII Northern Region, and Chief Executive Officer, Servel India, said, ''CII's target is to boost the contribution of SMEs in the manufacturing sector from current 15% to 25% of the GDP by 2022 and amplify SMEs contribution to India’s GDP from current 8% to 15% by India at 75.''

Abhimanyu Munjal, Vice-Chairman, CII Delhi & Joint Managing Director & CEO, Hero FinCorp. said, ''A major chunk of SMEs relying on traditional ways and they are lagging behind their competitors and global counterparts.'' If India has to maintain the path of growth it is on, technology adaption will have to be rapid, he added.

   
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Economy makes merry in March; expenditure shoots up in closing month of fiscal year: Assocham - 19-Jun-2018 11:05
GST leads to formalization of economy and widening of tax base - 18-Jun-2018 15:01
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer