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The government has announced an about Rs 6 lakh crore package, including Rs 3 lakh crore of collateral-free loans for small businesses and a Rs 30,000 crore lifeline to non-bank and housing finance companies as part of measures to help the economy tide over disruptions caused by the coronavirus lockdown.
\"Conceptually it is a heavy hitter package and can potentially stabilise and propel the MSME<\/a> sector towards stability and growth. Delivery of credit will be the key though,\" India Cellular and Electronics Association<\/a> (ICEA<\/a>) Chairman Pankaj Mohindroo said.
Finance Minister Nirmala Sitharaman<\/a> announced the creation of a fund of funds for MSMEs, which will infuse Rs 50,000 crore equity in units that have growth potential.
However, Mohindroo said equity infusion through the fund of funds will depend on the speed of the daughter funds having the management capability and acumen.
\"The daughter funds need investments from other sources which are very stretched and strained at this time. The measures for easing cash flow like lower TDS, lower provident fund rates etc are welcome,\" Mohindroo added.
After-sales services startup 247around co-founder and CFO Anuj Aggarwal said the reduction in EPF contribution for one quarter, TDS rate reduction and pending IT refunds would help in creating additional liquidity in the near term.
\"Since MSMEs which don't have existing loans or are not stressed\/NPAs fail to qualify for the emergency credit line, I believe many small enterprises would not be able to solve their current issues like paying salaries, making vendor payments and buying material etc. and this would be a disappointment for those. We are still checking the finer details and discussing it with experts,\" Aggarwal said.
Credit intelligence firm Creditwatch<\/a> said collateral-free automatic loans extend the previous loan moratorium benefits. The new terms should benefit as many as 45 lakh businesses and help with working capital requirements in the coming days.
\"We believe setting the threshold for eligibility, Rs 25 crore outstanding and Rs 100 crore turnover, is helpful but it is yet to be seen whether public sector banks will underwrite such unsecured loans at a faster pace on the back of these terms.
\"The real-need of the hour is to move to cash-flow based lending,\" Creditwatch<\/a> founder and CEO Meghna Suryakumar said.
Electronics industries body ELCINA<\/a> said that self-reliance was the cornerstone of Prime Minister Narendra Modi's speech on Tuesday, and Make in India would mean higher value addition in electronics manufacturing sector.
\"While we have moved ahead in this direction, much more needs to be done to establish a seamless system. Greater transparency, education and skilling and an effective bureaucracy are the need of the hour,\" ELCINA<\/a> Secretary General Rajoo Goel said.
Mobile accessories maker Ambrane India lauded the relief package.
\"We look forward to the relaxations that were suggested today, and are quite hopeful that the relief will definitely help in abating the economic severity of the corona pandemic, and will act as a stimulus to revive the economy,\" Ambrane India Managing Director Ashok Rajpal said.
Social media firm Sharechat said India's dominance in the global digital economy will further grow in the coming years and the Prime Minister's call to make an 'Atmanirbhar Bharat' would play a major role in achieving this vision.
\"As a domestic company we look forward to contributing to the clarion call by our Prime Minister of promoting local brands. We all are in this together and we want to thank our Hon'ble PM Modi for guiding us through these difficult times,\" Sharechat Director for Public Policy<\/a> Berges Malu said.<\/body>","next_sibling":[{"msid":75731904,"title":"OnePlus 8 5G series to go on sale from 29 May at a starting price of Rs 41,999","entity_type":"ARTICLE","link":"\/news\/oneplus-8-5g-series-to-go-on-sale-from-29-may-at-a-starting-price-of-rs-41999\/75731904","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":75732708,"entity_type":"ARTICLE","title":"Stimulus package to propel MSME sector; but some concerns remain: Tech firms","synopsis":"Mobile devices industry body ICEA said the stimulus announced by the government will propel and stabilise the growth of micro, small and medium enterprises (MSMEs).","titleseo":"telecomnews\/stimulus-package-to-propel-msme-sector-but-some-concerns-remain-tech-firms","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":441,"shares":0,"engagementtimems":1997000,"url":"https:\/\/ettelecom.indiatimes.com\/telecomnews\/stimulus-package-to-propel-msme-sector-but-some-concerns-remain-tech-firms\/articleshow\/75732708.cms"},"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2020-05-14 12:28:13","lastupd":"2020-05-14 12:33:41","breadcrumbTags":["Tech firms","CreditWatch","icea","Nirmala Sitharaman","ELCINA","India Cellular and Electronics Association","MSME","policy"],"secinfo":{"seolocation":"telecomnews\/stimulus-package-to-propel-msme-sector-but-some-concerns-remain-tech-firms"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2020-05-14" data-index="article_1">
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政府已经宣布了一项关于6十万的卢比包,包括3个十万的卢比collateral-free小企业贷款和30000卢比的生命线非银行住房金融公司的措施来帮助美国经济度过中断由冠状病毒引起的锁定。
“从概念上讲,这是一个沉重打击包和可能稳定和推动MSME部门对稳定和增长。不过,信贷交付将是关键”印度手机和电子协会(工商东亚)主席Pankaj Mohindroo说。
财政部长吧Sitharaman宣布成立基金的基金男男同性恋者,将注入50000卢比股本增长潜力的单位。
但Mohindroo表示,通过基金的基金股权注入的速度将取决于女儿基金的管理能力和智慧。
“女儿基金需要从其他来源的投资非常紧张和紧张。措施降低TDS等缓解现金流,降低公积金利率等是受欢迎的,”Mohindroo补充道。
售后服务启动247年创始人和首席财务官Anuj Aggarwal说四分之一的EPF贡献减少,TDS降息并等待退款将有助于创建额外的流动性在短期内。
“因为男男同性恋者没有现有贷款或不强调/ npa未能符合紧急信贷额度,我相信许多小型企业将无法解决他们当前的支付工资等问题,使供应商支付和购买材料等,这将是一个失望的。我们仍在检查细节和与专家讨论,”Aggarwal说。
信贷情报公司在收购案失败说collateral-free暂停自动贷款扩展先前的贷款的好处。新条款应该受益多达45个十万的企业和帮助营运资金需求在未来几天。
“我们相信设置资格的门槛,25卢比杰出的100卢比的营业额,是有用的但它还是否公共部门银行将承担这样的无担保贷款速度的这些条件。
“真正需要的时间是基于现金流的贷款,”在收购案失败创始人兼首席执行官Meghna Suryakumar说。
电子工业的身体ELCINA说自力更生的基石莫迪总理周二的演讲,并在印度意味着更高的价值除了在电子制造业。
“我们已经在这个方向,还需要做更多的工作来建立一个无缝的系统。更大的透明度、教育和斯基林和一个有效的官僚主义是需要时间,”ELCINA秘书长Rajoo高尔说。
手机配件制造商Ambrane印度称赞的救援计划。
“我们期待今天提出的风头,并非常希望救援肯定会帮助缓和经济日冕大流行的严重程度,并将作为振兴经济的刺激,“Ambrane印度总经理Ashok拉西普说。
社交媒体公司Sharechat说,印度在全球数字经济的主导地位将进一步增长在未来几年,总理打电话“Atmanirbhar巴拉特”将扮演重要的角色在实现这个愿景。
“作为一个国内公司我们期待导致我们的总理的感人的号召推动本土品牌。我们都是在一起,我们要感谢我们亲爱的下午'ble莫迪指导我们通过这些困难的时刻,”公共Sharechat主任政策berg马陆说。
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