• Publish Your article
  • Editorial Policy
  • About Us
  • Contact
  • Advertise
Thursday, March 30, 2023
  • Login
No Result
View All Result
Birmingham Times
  • Home
  • UK News
  • Politics
  • Business
  • Entertainment
    • All
    • Sports
    Teenage wonderkid to snub huge transfer to Man Utd or Chelsea after fears over lack of first-team football

    Teenage wonderkid to snub huge transfer to Man Utd or Chelsea after fears over lack of first-team football

    What is a Grand Slam and does it have different meanings in golf, rugby union and tennis?

    What is a Grand Slam and does it have different meanings in golf, rugby union and tennis?

    Aldi fans racing to nab their latest beauty dupes – including a double for a popular Tom Ford scent that’s £204 cheaper

    Aldi fans racing to nab their latest beauty dupes – including a double for a popular Tom Ford scent that’s £204 cheaper

    Breaking Barriers: We Run The World Female DJ Agency Mission to Champion Female DJ Talent

    I’m a rugby cult hero but now I save sheep and chickens from deadly snakes when I’m not on reality TV

    I’m a rugby cult hero but now I save sheep and chickens from deadly snakes when I’m not on reality TV

    Who is Courtney Black and what is her net worth?

    Who is Courtney Black and what is her net worth?

    Wales 10-20 England – Six Nations LIVE RESULT: Lawrence crosses line as England pick up crucial win – reaction

    Wales 10-20 England – Six Nations LIVE RESULT: Lawrence crosses line as England pick up crucial win – reaction

    Rugby team without win all season lose 190-0 but gain British record

    Rugby team without win all season lose 190-0 but gain British record

    Wales 10 England 20: Borthwick’s side capitalise on strike chaos to grind out win in sloppy Six Nations clash

    Wales 10 England 20: Borthwick’s side capitalise on strike chaos to grind out win in sloppy Six Nations clash

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Travel
    Subway fans mortified after seeing how their rotisserie chicken & tuna mayo are made – some say Gordon Ramsay would flip

    Subway fans mortified after seeing how their rotisserie chicken & tuna mayo are made – some say Gordon Ramsay would flip

    All you need to know about the Ulez vehicle scrapping scheme – how it works and check if you’re eligible

    All you need to know about the Ulez vehicle scrapping scheme – how it works and check if you’re eligible

    I’m an Aldi addict but headed to M&S instead –  the bargains blew my mind and the fruit and veg was seriously impressive

    I’m an Aldi addict but headed to M&S instead – the bargains blew my mind and the fruit and veg was seriously impressive

    The world’s best airports have been announced for 2023

    The world’s best airports have been announced for 2023

    I’m a psychologist and this is what your fave supermarket says about you – from ‘spontaneous’ Aldi to routine-loving M&S

    I’m a psychologist and this is what your fave supermarket says about you – from ‘spontaneous’ Aldi to routine-loving M&S

    Which train lines are affected by the strikes today?

    Which train lines are affected by the strikes today?

    I’m a savvy shopper, Food Warehouse is like Iceland but better – they have things I can’t get in Tesco & the best crisps

    I’m a savvy shopper, Food Warehouse is like Iceland but better – they have things I can’t get in Tesco & the best crisps

    The best Nordic slopes to visit outside ski season

    The best Nordic slopes to visit outside ski season

    I lost my wife & baby in just 30 minutes – I was so excited to start a family with them, my world’s destroyed

    I lost my wife & baby in just 30 minutes – I was so excited to start a family with them, my world’s destroyed

    I compared a shop at M&S and Tesco to see if it’s as reasonable as everyone says, I didn’t expect the results at all

    I compared a shop at M&S and Tesco to see if it’s as reasonable as everyone says, I didn’t expect the results at all

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Health
  • Opinion
  • Tech
  • Science
  • Travel
  • Real Estate
  • Sports
  • More
    • Crypto
    • Press Release
Birmingham Times
No Result
View All Result
Home Asian News

Launched India’s first solutions-focused report for MSME delayed payments

by Chandler
March 5, 2023
Reading Time: 4min read
0
SHARES
Share on FacebookShare on TwitterShare on Reddit

Deferred Payment Report 2.0 by Global Alliance for Mass Entrepreneurship (GAM) and C2FO (Collaborative Cash Flow Optimization, C2FO) titled ‘Imagining Solutions to Unlock Working Capital for MSMEs’ was released today by Chief Economic Adviser to the Government of India, Dr. Released by V Ananth Nageswaran. India’s first solutions-focused report of MSME

Commenting on the report, Chief Economic Adviser to the Government of India Dr. V Ananth Nageswaran said, “I am very happy with the fact that the Global Alliance for Mass Entrepreneurship continues to focus on the issue of delayed payments which needs to be addressed.

This is an issue that can only be resolved over time by maintaining constant pressure. It is also an issue that is yet to be resolved not only in India, but in many countries around the world. In India, the government has been focusing on MSME since 2014. And hopefully over time, through some legislative and budgetary announcements,

We can gradually change the mindset, not only in the private sector, but also in the public sector. And then, mechanisms and artificial interventions will no longer be needed as a prompt payment culture will be embedded as part of normal large enterprise behavior. In the Budget 2023-24,

The government has clarified that payment for MSME suppliers cannot be claimed on accrual basis and cannot be set off against taxable income until the payment is actually made. It makes it clear that companies cannot have their cake and eat it too. Without a vibrant MSME sector, we cannot talk of India becoming a global economic power.”

A newly launched report by the Indian Ministry of Micro, Small & Medium Enterprises (MSME) identified three central pillars to address the financial crisis – government and policy makers, financially viable and financiers, and large enterprises (public sector undertakings). (including Public Sector Undertaking, PSU)) with a focus on plausible solutions, as well as creating an additional 10 crore jobs by 2030.

Extensive discussions by C2FO and Game and Mr. B.B. SVEN and Mr. Ajit Singh, Ministry of Micro, Small & Medium Enterprises (MSME), Mr. Sharad Sharma, Co-Founder, iSPIRIT, Mr. Vivek Malhotra, Chief General Manager, SIDBI ), inputs from Mr. Anil Bharadwaj, Secretary General, FISME, Mr. Adarsh ​​Kumar, Senior Agribusiness Specialist with Food & Agriculture Global Practice, World Bank and Mr. Rajesh Kumar, Managing Director and Chief Executive Officer, TransUnion CIBIL Co-authored the accompanying report.

Ravi Venkatesan, founder of the Global Alliance for Mass Entrepreneurship (GAM), says, “Most of the Ministry of Micro, Small & Medium Enterprises (MSMEs) lack financial support, lack of guidance support to scale businesses and technological obsolescence. are struggling.

They can be efficient and create more jobs if they have markets, finance and technology and strategies to be competitive. Uninterrupted cash flow is a pre-requisite and the game Deferred Payment 2.0 proposes a four-point solution for the Ministry of Micro, Small & Medium Enterprises (MSME) to succeed and expand the Indian economy. continues.”

Alexander Kemper, Founder and CEO, C2FO, pointed out, “Delayed payments and lack of formal credit can adversely affect a nation’s ability to create jobs. While struggling to deal with payment delays , business owners are also under pressure due to long-standing credit assessment criteria and procedures that limit their access to loans.

Through this report, we have suggested solutions that would simplify India’s stack (account aggregator, GST), credit guarantee scheme and create appropriate incentives for buyers and sellers to overcome this critical problem.”

The report serves as evidence that millions of businesses are not part of the formal economy, which is why they never had access to credit. The impact of delayed payments and the lack of formal credit have adversely affected the nation’s potential to create jobs, including the cost of doing business, creating more barriers to doing business. While struggling with payment delays, business owners are also pressured by non-representative and exclusive assessment criteria that limit their access to loans.

The government’s efforts to introduce schemes and norms are expected to encourage credit flow and strengthen cash flow-based credit by simplifying credit guarantees, consolidating GST data and strengthening Trades (TReDS) and reimagining the late payment dispute resolution process.

You can download the full report here: https://massentrepreneurship.org/wp-content/uploads/2023/03/Delayed-Payments-Report-2.0.pdf

.Source

Tags: delayedIndiasLaunchedMSMEPaymentsreportsolutionsfocused

Related Posts

People in Canada once again protest against the Kovid sanctions

Severe mental symptoms if sudden seizures occur

by Chandler
March 29, 2023
0

New Delhi, Epilepsy is a brain disorder that causes frequent seizures or fits. The symptoms of a seizure depend on the specific part of the brain. Its symptoms can include jerking of...

Six of the weirdest but fake things in history

Six of the weirdest but fake things in history

by Chandler
March 26, 2023
0

New Delhi, If you ever found a pot on the ground with pieces of something lying around, what would be your first thought? You would think that this pot must be hundreds...

Daljit Kaur said to ignore people’s advice

Daljit Kaur said to ignore people’s advice

by Chandler
March 23, 2023
0

Mumbai, Daljit Kaur took seven rounds with UK businessman Nikhil Patel in Mumbai on March 18. Earlier this actress was married to Shalin Bhanot and divorced in 2013. Her son Jaden is...

57 cartridges, walkie-talkie set seized from car in which Amritpal fled

57 cartridges, walkie-talkie set seized from car in which Amritpal fled

by Chandler
March 20, 2023
0

Chandigarh, Police combing operation continues for third day in Punjab to nab separatist leader and 'Waris Punjab De na Chief Amritpal Singh. Amritpal Singh has been declared a fugitive. Meanwhile, Punjab Police...

World Sleep Day: Half of India’s population does not sleep, the risk of heart attack

World Sleep Day: Half of India’s population does not sleep, the risk of heart attack

by Chandler
March 17, 2023
0

New Delhi, If sleep is not completed, its risk is very high. This can even lead to death. In fact, people who sleep less have a higher risk of heart attack. However,...

People in Canada once again protest against the Kovid sanctions

Nitin Gadkari gifted 10,000 crore projects in Gorakhpur

by Chandler
March 14, 2023
0

New Delhi, Union Road and Transport Minister Nitin Gadkari on Monday announced an allocation of Rs. 10,000 crore project inaugurated and foundation stone laid. Meanwhile, CM Yogi was also present. On this...

Next Post
A mysterious ship found lost in a dangerous lake

A mysterious ship found lost in a dangerous lake

Popular News

Samsung launched Galaxy A54 and A34 with stunning designs and trendy colors

Samsung launched Galaxy A54 and A34 with stunning designs and trendy colors

13 hours ago
Smallest country in the world, flag-money everything is different

Smallest country in the world, flag-money everything is different

14 hours ago
People in Canada once again protest against the Kovid sanctions

Severe mental symptoms if sudden seizures occur

14 hours ago
People in Canada once again protest against the Kovid sanctions

Bollywood actors will rock the IPL opening ceremony

15 hours ago
Tate Modern visitors left baffled by bizarre ‘work of art’ as tradesman displays his paint-splattered radio

Tate Modern visitors left baffled by bizarre ‘work of art’ as tradesman displays his paint-splattered radio

3 days ago
Labour repeat vow to ban MPs’ second jobs after Matt Hancock and Kwasi Kwarteng demand £10,000 for day’s work

Labour repeat vow to ban MPs’ second jobs after Matt Hancock and Kwasi Kwarteng demand £10,000 for day’s work

3 days ago
How the Daily Mail built an audience of 150,000+ digital subscribers

How the Daily Mail built an audience of 150,000+ digital subscribers

3 days ago
Customers will not need to go through the KYC process in person to get a SIM card

Customers will not need to go through the KYC process in person to get a SIM card

4 days ago
Birmingham Times

All Rights Reserved © Birmingham Times - The Voice of UK

Important Links

  • Publish Your article
  • Editorial Policy
  • About Us
  • Contact
  • Advertise

Follow Us

No Result
View All Result
  • Home
  • Politics
  • UK News
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Health
  • Food

All Rights Reserved © Birmingham Times - The Voice of UK

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In