SEAnews 2015-10-27 ArtNo.45505

【New Delhi】India's economy may be about to turn the corner on the back of robust public spending that's beginning to have an impact on the ground coupled with strong urban consumer demand, economists and government officials said.
　Three months of sound industrial growth driven by manufacturing, signs of a pickup in investment, robust indirect tax collections and indications of a mining sector reboot suggest that the government's attempts to revive the economy through reforms and higher public capital spend are working.

○Modi to make key announcements on Startup India in Dec.

【New Delhi】Prime Minister Narendra Modi will announce a series of special initiatives in December to give a further boost to the start-up ecosystem in the country.
　This was stated by Jayant Sinha, Minister of State for Finance, who was delivering the keynote C. K. Prahalad Memorial Lecture at the TiECon Delhi 2015 in the Capital on the 18th of October.
　In his Independence Day speech, Mr. Modi had announced a new campaign ‘Startup India; Stand up India’ to promote bank financing for startups and offer incentives to boost entrepreneurship and job creation in the country.
　Responding to queries on the inordinate delays in service delivery of government departments, Sinha said that the government was committed to improve the ease of doing business in India. "Stay tuned", Sinha said when a delegate pointed out that it was taking about two months to incorporate a company in India. This is the situation in India when countries like the UAE were handing out certificates of incorporation on the same day itself, this delegate said. To another delegate's query on the difficulties faced in closing down of companies, Sinha replied "stay tuned".

○Direct transfer of benefits for MSMEs

【Coimbatore】The Ministry of Micro, Small and Medium Enterprises (MSMEs) is considering introduction of direct transfer of benefits (DTB) to those setting up units under the Prime Minister Employment Generation Programme.
　Anup K. Pujari, secretary, Ministry of Micro, Small and Medium Enterprises, told presspersons of the above news here on the 17th of October. He also added, "In order to simplify processes, the Ministry has introduced single page registration and since its launch last month, over 10,000 people have applied for Udyog Aadhaar."

【News source】

Narendra Modi government presses acceleration switch as reforms start having impact on ground

PM to announce special initiatives in December to boost start-up ecosystem: Jayant Sinha

Modi to make key announcements on Startup India in Dec.: Sinha

Direct transfer of benefits for MSMEs

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