Thursday, 1 December, 2022
TopicMSME distress

Topic: MSME distress

‘This is Kalyug’: MSMEs, workers in shoe hub Agra say GST hike a kick in the gut after Covid

Covid lockdowns and ongoing Omicron wave have hit hard, but GST hike to 12% from 5% on footwear below Rs 1,000 has knocked down many businesses & left labourers without work.

More businesspeople died of suicide than farmers in 2020, shows NCRB data

NCRB data shows 11,716 businesspersons died of suicide in 2020, while farmer suicides stood at 10,677, which is around 1,039 cases fewer.

Demand down, revenue down but costs up: Pandemic takes shine away from UP’s ‘peetal nagri’

Uttar Pradesh's brass, scissors and locks industries all hit by lockdowns, rising input costs & inflation. Small business owners complain of being denied loans under govt schemes for MSMEs. 

Small units pack up, weavers prefer to be guards: How Covid ruined Karnataka garment industry

Handloom weaving, among smallest components of textile MSMEs, took a massive hit due to the lockdowns, which saw consumer demand plummet, crippling garment industry as a whole.

MSMEs slowly get back on their feet, but liquidity problems, shortage of orders & labour remain

A survey has found that 9% of MSME units were shut as on 1 August on account of the Covid-19 pandemic as opposed to 13% in June and July.

Govt expands MSME loan guarantee scheme to include lawyers, doctors & large firms

The Rs 3-lakh crore loan guarantee scheme was announced in May, and so far around Rs 1.37 lakh crore has been sanctioned under the scheme.

On Camera

YourTurn

A group picture of Supreme court judges at Supreme Court in New Delhi | Praveen Jain | ThePrint

Ambedkar rejected collegium system, said CJI supremacy on judges’ appointment is dangerous

In May 1949, the Constituent Assembly debated the Collegium system, only to reject it thrice. Now the SC is assuming that role once again.
Representational image | Reuters

India’s economic growth at 6.3% for second quarter, slower than previous months

Government capital spending increased more than 40% during the quarter as it stepped up expenditure on roads to railways, according to official data on Wednesday.

Defence

A soldier with 'Arjun', a black kite trained to down enemy drones, during the Yudh Abhyas exercise being held in Auli, Uttarakhand | Suraj Singh Bisht | ThePrint

It’s a plane, no it’s a bird! Army’s training eagles & falcons to swoop down on hostile drones

The birds are also being trained for surveillance at Remount Veterinary Corps Centre in Meerut, with cameras fitted to their heads to record videos.

A Gujarat gamble: A likely reason Rahul is not giving Modi a fight this assembly election

I'd rather not buy idea that Rahul's holding his fire until 2024. More likely, Congress believes Karnataka offers best chance of winning a Gujarat-sized state if Gujarat is too challenging.