India Economics

India Chart Book

23 January, 2019

Government attempts to woo SMEs

Election giveaways in India have been ramped up significantly this month, with small and medium-sized enterprises (SMEs) the main beneficiaries. Firms with annual sales of less than INR0.4m are now exempt from the Goods and Services Tax. Meanwhile, banks have been permitted to restructure distressed loans worth less than INR250m, sparing several SMEs from entering bankruptcy proceedings. And according to recent media reports, the government is also considering subsidising loans for businesses with

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