|
|
Budget should answer issues of SMEs
|
|
|
|
| Top Stories |
 |
|
|
|
Bikky Khosla | 22 Feb, 2011
With the Union Budget scheduled to be announced on February 28, the Finance Minister, Mr. Pranab Mukherjee will have to take into account the suggestions given by the Small and Medium Enterprises (SMEs).
No doubt the economy is showing signs of growth, but there is still need for the government to support them. As such the stimulus packages that were announced earlier should be continued at least for the next fiscal till the economy is back to where it was before the global slowdown. The Minister will perhaps understand that there is a need to accelerate growth and for the development of the sector which makes a significant contribution to the country's growth story.
Pro-sector announcements to counter emerging challenges such as rising input costs, tax benefits, interest rates, and separate labour laws have to come from the forthcoming Budget. The Central Excise Tax (CST) rate be reduced from 2 percent to 1 percent and change in the exemption limit of Excise Duty to minimum Rs. 5 crore instead of Rs. 1.50 crores. Moreover, tax breaks for employment intensive units rather than on the basis of capital invested should also be announced.
I feel that since the GST implementation is getting delayed, a modified GST, which will aid transition to the GST regime should be announced in the Budget. For long SMEs have been paying different Value Added Tax (VAT) in different states. The Finance Minister should, in the forthcoming Budget, announce uniform VAT rates in all commodities across all states.
PSU procurement from the MSME sector is another area which needs the attention of the Finance Minister. There is need of a procurement policy whereby PSUs are directed to source at least 20 percent of their goods and services from the sector. Apart from these, the various recommendations made by the Task Force should also be looked into.
|
|
|
| |
|
|
|
|
|
|
|
Budget blues
Roy | Tue Mar 1 15:40:40 2011
All issues pertinent and logical. The actual budget did not address expectations and that is a fact
GST
Vivek | Fri Feb 25 04:56:27 2011
I agree in totality with the views shared by editor. regards,
Road Permit Form
A.K.Goel | Thu Feb 24 15:19:33 2011
Road Permit Form are mendatory for inter state purchase in various states like U.P., U.A., RAJASTHAN ETC. This should be discontnued through out Country for free and easy movement of goods.
centralexcise limit enhancement for ssi & sme req.reg.
I C Aggarwal | Thu Feb 24 14:58:09 2011
I also agree with other readers to enhance central excise limit from 1.5 crore to at least 5 crores as input cost has increased due to inflation.
Incentives to SME’s balanced by corruption
Zahoor Ah. Bhat | Thu Feb 24 11:10:06 2011
It has become difficult to SME’s to compete in global market. The incentives provided to SME’s to reduce the production cost and to become compatible in global market is being balanced by the corruption. Govt. should take the initiatives to make Financial Institution/ Banks accountable to renew all deposit/ saving accounts with fresh personal identity, address proof and PAN. Also there should be maximum deposit slab for minor / unidentified accounts. Area wise slab rates should be fixed for immovable property both in urban and rural areas. Hope this may reduce corruption to some extent.
Incentives to SME’s balanced by corruption
Zahoor Ah. Bhat | Thu Feb 24 11:04:21 2011
It has become difficult to SME’s to compete in global market. The incentives provided to SME’s to reduce the production cost and to become compatible in global market is being balanced by the corruption. Govt. should take the initiatives to make Financial Institution/ Banks accountable to renew all deposit/ saving accounts with fresh personal identity, address proof and PAN. Also there should be maximum deposit slab for minor / unidentified accounts. Area wise slab rates should be fixed for immovable property both in urban and rural areas. Hope this may reduce corruption to some extent.
Excise Duty Limit enchancement of Rs.5 crore
A.Mohammed Khan | Thu Feb 24 07:24:15 2011
We have suggest the following points.
1. Reduce the CST 1% from 2%
2. Enchance the Central Excise duty limit to 5 Crore for SME units
3. Uniform Vat for all states or GST impementation
Maharashtra's Headache
Mahesh Apte | Wed Feb 23 16:42:03 2011
Throughout India there is no Octroi. But in Maharashtra this disastrous tax has not been removed completely. All Industries, Traders & Transporters are facing the heat of this Octroi. When are the Maharashtra Govt. & Indian Govt. will remove this difficulty. O God please help us!
Budget 2011
pushpendra dubey | Wed Feb 23 14:49:46 2011
aazaadi ke baad se hee is desh kee arthvyavsthaa patree se utar gayee hai. ise jitanaa sudhaarne kaa prayaas kiya jataa hai, utnaa hee bigadtee jaatee hai. jab tak yojnaa aayog aur sarkar villeges ko praathmiktaa nahi detee, panchaayto ko seedhe raashee uplabdha nahi karaatee, shahro me badhatee grameen aabaadi ko aane se nahi raoktee, tab tak vikaas adhooraa rahne vaalaa hai. villeges ko bhee seedhe vidhesho se saamagree bulaanee kee aazaadi dee jay, unhe bhee apnee nitiya tay karne kaa adhikaar hai. khadi graamodhyogo jeevit karne ke liye use protection dena jarooree hai. manregaa jaisee yojnaao me kushal kaarigaro ko kaam nahi diya jaaye. kissaano ko kheti ke alaava ek udhyog denaa jarooree hai. nahi to aage aane vaale samaya me aur adhik kisaan atmhatya karenge. desh ke paach laakh villeges kee 70 pratishat aabaadi kee takdeer graamodhyog se badlee jaa saktee hai. binaa iske hum cheen ke saste maal kaa mukaablaa nahi kar paayenge.
urjaa ke sthaaniya saadhno kaa vikaas karnaa jarooree hai. villeges ke kacche maal ko pakka banane ke liye vigyaan ke saadhno kee madad lenaa aavshyak hai. villeges ko sabse pahle bhojan aur vastra me swavlambee banaane kee yojna banaa de, us laagu kar de, sharaab band kar de (jo ho nahi sakta), bejameeno ko jameen de, aadhi samasyaa hal ho jayegee. sarkaar kaa dakhal kam kare. gaao ko aazaad kar de, bharat majboot ho jaayegaa.
centralexcise limit enhancement for ssi & sme req.reg.
nallathambi | Wed Feb 23 11:56:31 2011
sir, we request u to kindly amend the centralexcise limit from 1.5 crore to atleast 5 crores for the SSI & SMEs It will help the ssi and the ssi employees to grow
BUDGET SHOULD ANSWER ISSUES OF SME
Chintamani Phadke | Wed Feb 23 09:27:34 2011
We do agree that budget should answer all your points, which are truely important. However, we would like to only mention here that SME's should also have accountability towards the government. They should have proper disclosure norms as per limited liability companies and pay taxes / duties regularly. Government should be able to assess complete data on SME which can be available to them only after all the SME's pay taxes and duties diligently.
SERVICE TAX AND EXCISE BENEFITS.
HARINDER SINGH. | Wed Feb 23 08:40:33 2011
The issue of service tax imposed on non excisable units for getting jobwork done makes them incompetative in face of industry covered under excise.How can service tax be justified for non excisable units? Like bicycle and dying industry this benefit should be extended to other industry also.
A small manufacturer is someone who cannot install full plant and is dependent on services from outside and in turn promotes
The next issue is if the Government is really serious for export growth then why not a direct excise benefit be given to the manufacturer/ deemed exporter on purchase of machinery irrespective of whether the unit is covered under excise or not. His H form sales can we considered as proof and this way direct benefit to someone who is at the root will help in creating a stronger industrial base. This will encourage small manufacturers to make use of better plant and machinery which in return will produce better quality and quantity where China is way ahead of us.
Issues of SMEs ?
Dr J K Nigam | Wed Feb 23 08:06:25 2011
A lot of issue to b reslvd to support SMEs. Major isse r taxation benefits and funding. Eery one know that tunning eterprnur is onething and sucess is dfferant. Initialy enterprnuere have to make balnace in prductivty, reduc over cost,and show profitailty to the invstors with insufficient resurces. Market penetration is also tough. A lot of Ideas/ enterprenuers dying in lack of support. Govt. should lan from China, how he hve supported enterprenuers and going to enjoy supper power position.
MSME
SHALEEN WADHAWAN | Wed Feb 23 07:06:24 2011
As MSE face a lot of trouble specially when they are a manufacturing unit. Points which we would like to bring are similar what others are facing ......
1. EXCISE DUTY EXEMPTION SHOULD BE RAISED TILL 4 CRORES MINIMUM.
2. GST SHOULD BE IMPLEMENTED , AS WHEN WE PROCURE RAW-MATERIAL FROM OTHER STATE , WE HAVE HUGE LOSS IN TAX. SO DIFFICULT TO MEET THE PRICES.
3. FOR MSE INTEREST SHOULD BE ON LOW SIDE.
4. ELECTRICITY SHOULD BE PROVIDED 24 HRS FOR THE INDUSTRY.
5. MORE INDUSTRIAL ESTATE SHOULD BE MADE.
6. INDUSTRIAL LAND SHOULD BE CHEAPER , IT IS SHOULD NOT ONLY BE SHOWN IN BOOKS BUT ALSO BE IMPLEMENTED.
7. SO MANY HEAVY INDL. LAND IS VACANT ALL OVER INDIA FROM SO MANY YEARS , SHOULD BE PROVIDED TO MSE.
8. RAW - MATERIAL SHOULD BE AVAILABLE EASILY.
CST
moghe | Wed Feb 23 06:37:06 2011
C forms should be done away with, in interstate transactions.Recovery of C forms in many cases is cumbersome and expensive
Exemption limit of excise duty.
Keerthi | Wed Feb 23 06:28:39 2011
We request you to change in the exemption limit of Excise duty to Rs.5 crore instead of Rs.1.5 Crore.
It can be helpful for SSI and SME units for the growth.
PSU Procurement from MSME
Sankaran Venugopal | Wed Feb 23 06:00:15 2011
It needs to be highlighted here that the cost of goods, services, etc supplied by MSMEs to public setor are generally much below that from large enterprises. Also, the quality aspect has improved substantially and in fact surpassed that of the latter in many areas. It is therefore important to protect the MSMEs from unhealthy and suppressive competitions by large enterprises which source the same work from the MSMEs for the PSUs. However, the PSUs should bring out a policy for the SMEs to prevent misuse, wrong type of entry and dilution of competition. the best way forward is a quality auditing system which will see only the professional MSMEs emerging in due course. The govt. should fix a quota of atleast 20 percent as suggested in the editorial.
Budget 2011
Vinod Kala | Wed Feb 23 05:43:57 2011
All motor fuels should be declared as National Property taking it out of the state's regime and should be taxed as 4% under VAT through out in India thus reducing un-wanted burden on consumers
MSMED Act 2006
Ipshita | Wed Feb 23 04:07:45 2011
There is a need to implement the 45 days credit period for MSMEs across the country without any ifs, buts, exclusions or inclusions. Overdue bills and long drawn legal process to recover dues is an area that hurts the SMEs most.
Improving productivity
K.V.Subba Rao | Wed Feb 23 03:24:41 2011
The finance minister should give importance to productivity by looking at various patterns of consumption. Unless the consumption is increased productivity will not increase. To increase the industrial productivity the minister should look at various options of consumption aeas and try to boost consumption by giving cost advantages in the budget.
Relief / reduction in Tax Rate in Budget-2011-12
Gurmukh Juryani | Tue Feb 22 18:18:10 2011
R/Sir, The Finance Minister should give Relief/ reduction in Tax Rate in proposed Budget-2011-12,a common man should take breath, Low the Tax Rate- High the Collections, to cut the cost of projects,low allocation for Expenses,co-ordination with public representatives to study the real facts.
|
|
|
|
|
|
|
| |
| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
|
|
| Daily Poll |
 |
 |
| PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
| Commented Stories |
|
|
|
|
|
|
| |
|
