March 30, 2025 01:49 am (IST)

Make this your homepage

All Finance

Telangana man marries two women in same ceremony after falling in love with both | Vladimir Putin says Russia won't interfere in Donald Trump's plans to 'take over' Greenland | India ready to offer possible assistance: PM Modi on Myanmar, Thailand earthquake | Magnitude 7.7 Earthquake hits Myanmar, strong tremors felt in Bangkok | 'Complete lawlessness': Suvendu Adhikari writes to Bengal Guv over Malda violence | 'You are a liar': Mamata Banerjee faces guests' ire over Singur, RG Kar, 'attack on Hindus' at London event | 3 cops killed, 2 terrorists shot dead during J&K's Kathua encounter: Report | Kolkata couple sues IVF centre for not revealing daughter's biological parents' identity, blames it for her death | 'India is not Dharamshala', Amit Shah says as Lok Sabha passes Immigration and Foreigners Bill 2025 | 'Now it's our turn': Vladimir Putin accepts Narendra Modi's invitation to visit India

Power2SME says Budget 2016-17 laid emphasis on job creation

India Blooms News Service | | Mar 01, 2016, at 04:01 am

#Union Budget # Budget 2016-17 # Arun Jaitley # Finance # Power2SME # job creation

New Delhi, Feb 29 (IBNS): R Narayan, Founder and CEO, Power2SME, on Monday said Budget 2016-17 laid special emphasis on job creation and outlined measures to facilitate ease of doing business.

“Budget 2016-17 laid special emphasis on job creation and outlined measures to facilitate ease of doing business whilst simultaneously boosting the agricultural sector and the infrastructural growth," Narayan said.

"Measures such as lower corporate rate for small enterprises, increased turnover limit under Presumptive taxation scheme under section 44AD of the Income Tax Act for assesses in MSME category and few others are welcome move for SME players. Government’s announcement for new manufacturing companies incorporated on or after 1.3.2016 to be given an option to be taxed at 25% + surcharge, will attract entrepreneurial push in the manufacturing sector."

"However, I believe the turnover limit announced under Presumptive Taxation scheme could have been clocked between 3-5 crores and tax benefit of 25% + surcharge must have been given to larger set of manufacturing units with lesser number of existence."

"With continued focus on the Make in India Campaign, Swacch Bharat Abhiyaan and Skill India Campaign, government has announced measures that will indirectly impact MSME sector. Extended allocation of money towards Skill India, changes in customs and excise duty rates on certain inputs, introduction of Model Shops and Establishments Bill, that allow small, medium shop owners to do business 24x7, are some measures that will improve competitiveness and boost domestic demand."

"The positive but limited measures announced around SME or Startup space will definitely bring some relief to the sectors. The sectors, however, still look forward to developments related to GST,” said he.

Union Finance Minister Arun Jaitley on Monday presented the Union Budget 2016 focusing on rural development and farm and social sector along with infrastructure with analysts terming it a pro-poor, pro-agriculture move that throws a challenge to the government to implement in reality.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.

India
International

Related Images

Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:41 pm

Veedol signs former Indian skipper Sourav Ganguly as brand ambassador Jun 29, 2024, at 06:38 am

In Images: Glimpses from Bengali film Fatafati's premiere May 13, 2023, at 08:39 pm