TN Industries and MSMEs urge new govt for growth reforms
ECONOMY & POLICY

TN Industries and MSMEs urge new govt for growth reforms

S Vasudevan, the General Secretary of TANSTIA, expressed anticipation for further reforms in the MSME policy to facilitate ease of doing business. He also urged not to compromise on the amendment to Section 43B of the Income Tax Act, proposing the addition of a new clause (h) to address delayed payments encountered by MSMEs, impeding the flow of working capital and overall business growth.

Additionally, it was suggested to mandate the use of the TReDS platform for all PSUs and large industries for payments to MSMEs. Under this proposal, buyers would bear the interest incurred beyond 45 days, facilitating uninterrupted transactions with MSMEs.

Regarding the implementation of the new Income Tax Act provision 43B(h), Mohan emphasised the need for discussion and modification, ensuring that the 45-day payment to SMEs remains unaffected, particularly exempting capital goods buyers from the Act.

Furthermore, the Tamil Nadu Small and Tiny Industries Association advocated for allowing MSMEs to file their GST returns monthly and remit GST payments quarterly. This adjustment is proposed to alleviate the financial strain caused by delayed payments from corporate and PSU buyers, enabling MSMEs to manage their finances more effectively.

S Vasudevan, the General Secretary of TANSTIA, expressed anticipation for further reforms in the MSME policy to facilitate ease of doing business. He also urged not to compromise on the amendment to Section 43B of the Income Tax Act, proposing the addition of a new clause (h) to address delayed payments encountered by MSMEs, impeding the flow of working capital and overall business growth. Additionally, it was suggested to mandate the use of the TReDS platform for all PSUs and large industries for payments to MSMEs. Under this proposal, buyers would bear the interest incurred beyond 45 days, facilitating uninterrupted transactions with MSMEs. Regarding the implementation of the new Income Tax Act provision 43B(h), Mohan emphasised the need for discussion and modification, ensuring that the 45-day payment to SMEs remains unaffected, particularly exempting capital goods buyers from the Act. Furthermore, the Tamil Nadu Small and Tiny Industries Association advocated for allowing MSMEs to file their GST returns monthly and remit GST payments quarterly. This adjustment is proposed to alleviate the financial strain caused by delayed payments from corporate and PSU buyers, enabling MSMEs to manage their finances more effectively.

Next Story
Infrastructure Transport

CPCL crosses $10 million revenue milestone

Chaitanya Projects Consultancy (CPCL), a leading infrastructure and engineering consultancy, has surpassed $10 million in annual revenue for FY 2024–25, marking a five-year compound annual growth rate of 28.2 per cent—well above the industry average. Established in 2004, CPCL has delivered over 300 projects across highways, bridges, urban infrastructure, water, transport, and environmental sectors. Its achievements include over 600 km of six-lane highways, 2,000 km of national highways, and 100 major bridges. “Our goal has always been to improve India’s infrastructure,” sai..

Next Story
Resources

KPIL secures new orders worth Rs 37.89 billion

Kalpataru Projects International Ltd (KPIL), a major EPC player in power transmission and civil infrastructure, has secured new orders worth approximately Rs 37.89 billion along with its international subsidiaries. The orders include a significant contract in the Buildings and Factories (B&F) segment in India, marking KPIL’s largest B&F order to date. The project involves the development of over 12 million sq ft of residential space with supporting infrastructure, awarded on a design-build basis. Additionally, the company has won new transmission and distribution (T&D) order..

Next Story
Real Estate

Apartment loading rises to 40 per cent in top cities

Driven by rising demand for premium amenities, the average apartment loading across India’s top seven cities has reached 40 per cent in Q1 2025, up from 31 per cent in 2019, according to ANAROCK Research. The loading factor, or the area paid for beyond the usable carpet area, covers common spaces such as lobbies, staircases, and clubhouses. Mumbai Metropolitan Region (MMR) continues to lead with the highest loading at 43 per cent. Bengaluru saw the sharpest jump, from 30 per cent in 2019 to 41 per cent in Q1 2025. Chennai recorded the lowest average loading at 36 per cent. “Sixty..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?