Globalisation refers to the increasing interconnectedness and interdependence of countries and their economies marked by free trade, and the free flow of capital among countries. Globalization provides easy access to foreign resources, including labour markets, to maximize returns and benefit the common good. The capital moved between two or more places, commodities were traded across…
The term Globalization is used to refer to ideas, knowledge, information, goods, and services moving from one part of the world to another. In an economic context globalisation is a term used to describe integrated economies marked by free trade, the free flow of capital among countries, and easy access to foreign resources, including labor…
The social sector is generally defined as a sector dealing with social and economic activities carried out by the Government and Non-Government organizations to help society on a non-profit or not-for-profit basis. The social sector is important in India and includes several important components such as education, health and medical care, drinking water and sanitation,…
India’s journey towards becoming a developed nation by 2047 pivots significantly on improving its infrastructure, a foundation for development, and liveable, climate-resilient, and inclusive cities that drive economic growth. The infrastructure development of a country is assessed on economic infrastructure development that is the development of various sectors like Energy, Power, Telecom, and Transport (Railways,…
(MSME samadhaan, Atmanirbhar Bharat package, Make in India, Start-up India, Stand-up India, Zed certificate, Udyam Assist platform, RAMPS, Mudra Loan, PMEGP, TReDS, ECLGS, etc.) Micro, small, and medium enterprises (MSMEs) are often known as the backbone of the Indian economy which contributes 29% to the GDP of India. The sector is responsible for around 50%…
Aatma Nirbhar Bharat aims to make the country and its citizens independent and self-reliant in all senses. The Atmanirbhar Bharat Abhiyan was launched on May 12, 2020, by the Indian Prime Minister, Mr. Narendra Modi, to help the country recover from the economic impact of the Coronavirus pandemic by promoting self-reliance. The scheme’s goal is…
The Raising & Accelerating MSME Performance (RAMP) scheme is a World Bank-assisted program that aims to improve the performance of micro, small, and medium enterprises (MSMEs) in India. The scheme was launched on 30 July 2022 by the Government of India. The total outlay for the scheme is Rs 6,062.45 crore, of which Rs 3,750…
The micro, small and medium enterprises (MSMEs) are often known as the backbone of the Indian economy. This sector contributes more than 29% to the GDP and is responsible for around 50% country’s total exports. MSMEs also contribute one-third of India’s manufacturing output and employ people living in semi-urban and rural areas. The MSME sector…
Udyam registration is now mandatory for all MSMEs to avail of benefits under Priority sector lending and they can participate in Government tenders for manufactured goods and services. The registration provides multiple benefits to help MSMEs succeed, some of which are Collateral-free loans from banks and financial institutions and subsidised interest rates. It also simplifies…
The Ministry of MSME has taken the initiative to file an online application by the supplier MSE unit against the buyer of goods/services before the concerned MSEFC of his/her State/UT. The special portal launched on 30th Oct’2017 is known as “MSME SAMADHAAN”. This special portal to settle delayed payments by the buyers was launched by…