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Commendable decisions taken by the GST council, which will greatly help MSMEs, traders and the services sector.

We remain committed to a simple and people-friendly GST.
MSME sector is of vital importance to the Indian economy. This sector's energy and dynamism is noteworthy.

This evening I will launch a Support and Outreach Initiative, which will benefit MSMEs and strengthen our efforts for the sector undertaken over the last four years.
‘One District, One Product’ is a commendable initiative of the Uttar Pradesh Government, which will safeguard the well-being of all those associated with MSMEs, especially weaving and handicrafts.
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The Government e-Marketplace (GeM) is an excellent platform, offering customers and convenience for MSMEs.

Announced today that all CPSEs will have to be a part of GeM.
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Solving the challenge of cash flows for MSMEs.

It was been decided that all CPSEs and Corporates having a turnover of more than Rs. 500 crore must be on the Trade Receivables e-Discounting System or the TReDS Platform.
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Lower interest, higher exports…a win-win for MSMEs.

Subvention benefits on incremental and new loans, higher shipment credit for GST registered MSMEs.
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I hope this decision makes the Diwali for MSMEs working in the Pharma Sector even more special.
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Expanding the market for MSMEs, ensuring that their customer base also widens.

Now, a mandatory 25% of all procurements by CPSEs must be from MSMEs.
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MSMEs are the backbone of our economy. Our endeavour to give a boost to MSME sector is clearly reflected in the #NewIndiaBudget.
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