New Delhi : Modi had come up with a new scheme, 1 crore in 59 minutes. There are 12 different schemes for the small scale entrepreneurs.
Modi was addressing the public, at Delhi Vigyan Bhavan, in association with the inauguration, of Program for Small and Medium Enterprises.
Modi portrayed the scheme as a Diwali gift for small and medium entrepreneurs. Role of the Government in the SME industry will be increased from 20 to 25%, additional benefit is that, a reduction of 2% in the rate of interest with the aid of GST.
India is ranked 77th among business-friendly nations. Following this Modi has declared the news schemes which will further help in the business growth.
Implementing freight service tax and tax cut for small industries, was praised by The World Bank. Digitalization has been a mile stone, in the rapid growth of India. Digital Transactions, digital documentation and the availability of digital signature is the best part of Digital India.