![₹100-crore fund a shot in arm for manufacturing medium enterprises](https://images.assettype.com/fortuneindia%2F2022-06%2F1fa744fc-adb4-48fd-a40e-54e45a7edc8b%2FGettyImages_955530262.jpg?rect=0,133,2129,1065&w=300&q=95)
₹100-crore fund a shot in arm for manufacturing medium enterprises
Collateral-free loans of up to ₹100 crore to pave the way for firms to expand their capacity
Collateral-free loans of up to ₹100 crore to pave the way for firms to expand their capacity
The finance minister proposed to fully exempt customs duties on 25 critical minerals and reduce duty on two of them.
To create these many jobs, there is a need to create the conditions for faster growth of productive jobs outside of agriculture, especially in organised manufacturing and services.
With this background, the decision of the Indian Government to not extend the concessional tax regime for newly set up manufacturing companies was a major setback.
"No incentives have been given to education, healthcare and skilling. There is PLI for manufacturing, the services sector grew with ten year tax holidays," says Reddy
Companies witnessed reduced working hours in May amid an intensive heatwave in India that sent temperatures soaring to record highs.
The rise in raw material stocks during the month was supported by increased buying levels.
China's share in the global exports market has increased by 1.7% in the last five years
India should give primacy to labour-intensive manufacturing employment to absorb the abundant unskilled labour, says ILO
The next seven fiscals will see the Indian economy cross the $5 trillion mark and close in on $7 trillion at an estimated 6.7% average annual growth, CRISIL says in a report.