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TMI BlogSHARE OF MSMEs IN MANUFACTURING OUTPUT STANDS AT 35.4 PER CENT.X X X X Extracts X X X X X X X X Extracts X X X X ..... SHARE OF MSMEs IN MANUFACTURING OUTPUT STANDS AT 35.4 PER CENT. - Budget Dated:- 22-7-2024 - News - SHARE OF MSMEs IN MANUFACTURING OUTPUT STANDS AT 35.4 PER CENT. - - - Dated:- 22-7-2024 - PRODUCTION LINKED INCENTIVE (PLI) SCHEME FOR 14 KEY SECTORS GIVES FILLIP TO MSMEs STATES WOULD BE ENCOURAGED TO SET UP UNITY MALL TO PROMOTE ONE DISTRICT ONE PRODUCT The Economic Survey tabled by the Union Min ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman in Parliament today, highlights the importance of the MSME sector in the Indian economy with an all-India manufacturing output of 35.4 percent. According to the survey, Gross Value Added (GVA) per worker increased from ₹1,38,207 to ₹1,41,769 and Gross Value of Output (GVO) per establishment increased from ₹3,98,304 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o ₹4,63,389 showing increased productivity and labour efficiency. The Survey highlights the success of the Udyam Registration portal that has received 4.69 Crore registrations as of 05 July 2024, playing an instrumental role in formalizing MSMEs by providing a simple, online, and free registration process based on self-declaration. The Survey notes that there has been significant growth betw ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een FY20 to FY24 in the amount and number of guarantees for MSMEs with Union Budget 2023-24 allocating ₹9,000 Crore to the Credit Guarantee Fund Trust, aiming to enable an additional ₹2 Lakh Crore in credit with reduced costs. According to Survey, keeping in view India s vision of becoming Aatmanirbhar , Production Linked Incentive (PLI) Schemes for 14 key sectors were announced with a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n outlay of ₹1.97 Lakh Crore to enhance India s manufacturing capabilities and exports. Further survey states that over ₹1.28 Lakh Crore of investment was reported until May 2024, which has led to production/sales of ₹10.8 Lakh Crore and employment generation (direct indirect) of over 8.5 Lakh. Survey states export boosted by ₹4 Lakh Crore, with significant contributions fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om sectors such as large-scale electronics manufacturing, pharmaceuticals, food processing, and telecom networking products. Survey highlights, to give an impetus to the One District One Product (ODOP) initiative, the Union Budget of FY24 announced that states would be encouraged to set up a Unity Mall in their capitals or most prominent tourism centre or the financial capital for the promotion an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d sale of their ODOPs. Survey also states that PM-Ekta Malls aims to link the artisans of ODOP and consumers. Survey states that these malls are creating a vibrant marketplace for the nation s unique products, aiming at both domestic and foreign markets. In addition to this survey ODOP Sampark workshops were conducted in 15 States to facilitate collaboration between the Centre and local sellers an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d revive indigenous industries. According to the survey, ODOP showcased India to the world at the G20 events organised across the country during India s G20 Presidency, where the artisans, sellers and weavers got visibility on the global stage. - - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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