Discover and read the best of Twitter Threads about #msmes

Most recents (16)

German GDP down 10% in June qtr

France down 14%

Singapore minus 41%

#USGDP minus 32.9%,as per advance estimates

#COVID has inflicted universal damage--fall in India will be relatively lower&cushioned by good agri growth

Even when March qtr GDP grew 3.1%,#AgriGrowth was 5.9%
Besides Farm sector,thx to Banking clean-up,by @narendramodi govt, #Banks are doing well too

#SBI reported 81% jump in net profit at Rs 4189Cr

Yes,there was one time gain of 1540Cr--But even without this,profit grew by 15%& #NII by 19%

#GrossNPAs fell from 6.15% to 5.44% QoQ💪
#NetNPAs of #SBI fell from 2.23%,to 1.88%,in June2020 qtr

Improvement in #AssetQuality of SBI is good news&this,despite providing for #COVID19India related losses

SBI made Covid related provisions worth 1836Cr inJune qtr

Total provisions against Covid related losses are 3008Cr
Read 13 tweets
Immediately after announcement of #AatmaNirbharBharatPackage by FM Smt. @nsitharaman, Ministry of Finance & Corporate Affairs started implementation of Economic package.
In latest review taken by FM following progress has been reported: (1/8)

Read More➡️ pib.gov.in/PressReleasePa…
#AatmaNirbharBharatPackage
Progress so far:

✅Global tenders disallowed in Government procurement tenders up to Rs 200 crore.
✅Relief to Contractors

(2/8)

#IndiaFightsCorona
#AatmaNirbharBharatPackage
Progress so far:

✅Supporting State Governments - additional Borrowing of 2% of projected GSDP to States in 2020-21

(3/8)
Read 8 tweets
👇THREAD: The data on household food consumption recently released by @Nigerianstat is GREAT! We computed some estimates & insights from the dataset @sgyemikale (1/6)

(NB: Data & graphs below are estimates we computed from @Nigerianstat data and do not reflect official data)
In 2019, spending on food in #Nigeria was approximately USD 59 billion. Consumers in the geopolitical zones along the #GulfofGuinea account for almost half of national food expenditures...2/6 #foodsystems #fromfarmtotable #urbanization #structuraltransformation #hiddenmiddle
The #foodeconomy (household food expenditures) grew 5.2% per year over 2009-10 to 2019-20 in nominal terms. But the share of food in household spending declined from 65 to 57%...3/6 #structuraltransformation #urbanization #foodsystems #fromfarmtotable #hiddenmiddle #Nigeria
Read 7 tweets
Received a call from Mr @HardeepSPuri, Hon Min of State for Commerce and Industry, GOI today afternoon. Had a long discussion with him on the steps to Revive the Economy and submitted my inputs for his consideration. (1/n)
Following were my inputs:
1. All announcements made as part of #AtmaNirbharBharat Package were about liquidity infusion & making cash available through Financial Institutions. The focus on demand side is lacking. Govt has to put money in people's hands. (2/n)
2. Govt can categorize sectors into 'minor affected', 'medium affected' & 'severely affected'. Help can be extend to a particular sector either in the form of financial or taxation or others forms based on the category under which a sector falls. (3/n)
Read 18 tweets
#Thread

What are MSMEs? And why did the #Government set aside ₹3.7Lcr ($49bn) for #MSME support?

As the name suggests, #MSMEs (Micro, Small & Medium Enterprises) are small businesses. Their definition varies by country.

In India, the definition was changed last week.

1/n
Previously, MSMEs were defined according to investment in plant/machinery (if they were in #Manufacturing) or investment in equipment (if they were in #Services).

It went like this:

2/n
Last Wednesday, @nsitharaman announced a new definition for #MSMEs. Manufacturing & Services were clubbed and a new parameter - annual turnover - was added.

Now it goes like this:

3/n
Read 8 tweets
@FinMinIndia @nsitharaman hon minister Can we change laws to make consuming business in B2B transactions to pay GST on behalf of supplier on the GSTN? @rahuldeodhar @TheSwamy @TheOliveKnife @PMOIndia @nitin_gadkari @Dev_Fadnavis
#aatmanirbhardesh #msmes #liquidity #swadeshi
This can bring immediate benefits to all the stakeholders increase liquidity for MSME, will eliminate the scope of fraudulent claims, fake invoices, hopefully buyers may get additional discounts. #aatmanirbhardesh #msmes #liquidity #swadeshi @beingarun28 @ashwani_mahajan
This could be something similar to TDS laws. Wherein consuming business deduct TDS from the payments to their suppliers and deposit directly. #aatmanirbhardesh #msmes #liquidity #swadeshi @gaurav168 @TeamIndiaFirst @NandanNilekani @Infosys
Read 4 tweets
#Thread
CEEW unpacks #FM Nirmala Sitaraman's announcements on the booster measures to cope with & recover from #Covid19 induced shocks & to build a #SelfReliantIndia. We focus on Power sector, MSMEs, & NBFCs.
indianexpress.com/article/busine…
#AatmanirbharBharat 1/n
"Over 1/2 of the INR 5.8L CR stimulus announced today focused on our #MSME sector. 40% of India’s 450 mn informal workers are employed with MSMEs. The recovery of this sector is central to our economic resurgence & the workers' well-being," @GhoshArunabha #AatmanirbharBharat 2/n
"The #MSME sector is also the backbone of India’s #energy transition, and a key source of industrial emissions," @GhoshArunabha.
#AatmanirbharBharat #EconomicPackage #SelfReliantIndia
@someshjha7 @Firstday75 3/n
Read 10 tweets
The Economic package for Self-Reliance (#atmanirbharbharat) amid covid:-

Announced package - ₹20lakh cr
Already announced PMKGY - ₹1.7lakh cr
RBI liquidity announced - ₹6.5lakh cr

11.5 lakh cr NEW packages to be announced by #NirmalaSitharaman

(THREAD)
₹3 lakh cr loan package, ₹50k cr equity infusion and ₹20k subordinate debt(NPA) relief for #MSMEs are great announcements.

But only 33% MSMEs take credit from formal sector(Banks&NBFCs), 66% take it from informal sectors.

Will this reduce NPA in formal sector by MSMEs??
The definition change for #MSMEs was a needed measure but it's not something newly proposed.
It was proposed in 2018 by cabinet but came into consideration amid this Covid adversity.

Hope this changes the drastic figures as current avg employment generated by MSME is of 2.
Read 8 tweets
#AatmaNirbharBharatAbhiyan
Based on 👇

Land,Labour,Liquidity&Laws that are not isolationist but inclusive

Ease of Doing Business

DBT,JanDhan,Aadhar, Micro Insurance,Ujjwala Yojana, Ayushman Bharat, PM Awaas Yojana,PM FasalBima Yojana,Krishi Sinchai,Swachh Bharat--Key Landmarks
GST,IBC&PSU Bank Recapitalisation in last 6 yrs,have been big reforms

52606Cr given via #DBT to 41Cr #JanDhan holders

Free wheat&rice to 69Cr ration card holders

18000Cr tax refunds given

Free cylinders to 8Cr #Ujjwala holders

#20lakhcrores #COVIDー19
#atmanirbharbharat
Project DevelopmentCells,working for Promotion of Champion Sectors,in States

#MakeInIndia&Upgradation of Industrial Infra,a success&more will be done to #Decongest economy

3376 SEZs&IndustrialParks with 5 lakhhectares,to be ranked& mapped,in terms of readiness for competition
Read 20 tweets
Bringing #MSMEs back must be our top priority. It's not going to be easy. But, @PMOIndia @narendramodi must explore ways of recapitalizing them thro' multiple options. The entrepreneurial spirit must be maintained & sensible risktaking enabled. This thread is on how to do it.1/n
Firstly, the problem is simple to understand. #MSMEs have run out of capital. Were running low even pre covid. But, #Covid_19 depleted them severely. To comeback, they need fresh, start up capital. Else, restarting is very tough. Here, we see only one saviour -Govt. @PMOIndia.2/n
When we say #MSMEs can only be helped by Govt, let us first set ground rules. The idea is to recapitalise them swiftly so they work doubly hard to return to good shape, return monies & emerge stronger. Subsidies are not sought as freebies Giveaways are temporary & returnable.3/n
Read 12 tweets
Thrice in my work life, I have advised & engineered turnaround of virtually bankrupt #MSME firms. In all three instances, the working capital was destroyed and no fresh equity was infused.

Took them onto recovery & nursed them back to good health. Each case took five years. 1/n
In all cases, entrepreneur firmly believed lack of capital was the problem. They believed that if capital was given, #MSME could recover. In all 3 cases, the recovery happened without fresh capital. So much for how wrong ppl can be in knowing their own biz well enough. 2/n
The problem was simple. Each biz had a certain cash conversion cycle. This cycle needed to be kept tight & further tightened if possible. Entrepreneurs believed cycle was managed in the best possible manner. They saw little room to improve. There actually was plenty of scope. 3/n
Read 5 tweets
With only a few days to go before the most comprehensive #lockdown announced by GoI comes to an end, participated in a VC with Hon PM to discuss the exit strategy to deal with fallout from #COVIDー19 Crisis & ways to kick start the #economy. Made the following suggestions.(1/n)
1. TESTING: Use Rapid test kits to segregate the people into red, yellow & green zones. Empowering employers to test their workforce, will reduce the burden on Govt and create green zones of productivity and help get economy back on track. (2/n)
2. #supplychain: They are extremely important to get the economy moving even in a partial manner. Allowing trucks to #transport goods and other #materials is vital for the #economy. The Govt might also consider ensuring Road side facilities for the drivers' #welfare. (3/n)
Read 11 tweets
#STPIINDIA has been playing the role catalyst in bolstering the growth of #IT industry by providing state-of-the-art incubation facilities to #startups,#MSMEs & budding entrepreneurs in IT/ITeS sector to nurture tech-fueled entrepreneurship in India.#STPIIncubation #KnowAboutSTPI
In the early 90’s, when development of physical infrastructure needed massive investment, #STPIINDIA pioneered incubation services to nurture budding IT companies & promote them to leverage the enormous opportunities in software exports. #STPIIncubation #KnowAboutSTPI @Omkar_Raii
#STPIINDIA has been providing world-class incubation facilities to #startups, #MSMEs & budding entrepreneurs in #IT industry since 1991 to stimulate the growth of tech entrepreneurship pan-India by enabling hassle-free operations. #STPIIncubation #KnowAboutSTPI @Omkar_Raii
Read 48 tweets
Updates from #Budget2019 with @moneymantrainfo - Watch out all the news on budget (tweets / thread whole day..) 📊📋
#Budget2019 - Indian Economy : A Snapshot 👇
Sitharaman discards briefcase, goes for 'bahi-khata' #Budget2019
#BudgetForNewIndia
Read 37 tweets
Join me on PBCJamaica Live for my 2019/20 Budget Presentation #Budget20192020

Link: facebook.com/pbcjamaica/vid…
Jamaica’s Debt-to-GDP will fall to approximately 96% at the start of this Fiscal Year. This is the first it will fall below 100% in years. #Budget20192020
Read 23 tweets
1/ Everyone seems to be talking about WTO reform at the moment. Thought I would share some of my thoughts. This conversation has been a long time coming. The membership of the @WTO has been skirting around the issue since #MC10 in 2015 (and before @DmitryOpines & others whisper).
2/ In 2015, the WTO held the 10th Ministerial Conference. This was the first time there was no agreement among all the countries (and territories) present were unable to agree to continue the Doha Development Round of trade negotiations. #DDA. They agreed to disagree.
3/ Lots of historical reasons for this (and a separate discussion in itself) but result was that the @WTO no longer had an overarching trade negotiation to aim towards. This meant that the membership once again focused on the regular functioning of the organisation.
Read 14 tweets

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