VARINDIA IT MAGAZINE

Union Budget 2021: Focus on vision of Aatmanirbhar Bharat and Start-ups:  The Union Budget turns out to be an excellent budget but not a transformational budget as was made out to be. It has adopted a brilliant strategy of large scale infrastructure rollout, funded by asset monetization of existing road, power lines, gas pipelines and railway assets.   The budget also covers funding of New Education Policy which is what I have been asking for as it will provide the human resources needed for growth in this decade. Adequate provisions have been made for health, education, agriculture, MSME's and startups. Hope there is removal of GST on digital payments and removal of Angel tax as a followup of the budget.   The Union budget 2021 has brought relief for a lot of industries and is poised to take India to greater heights. For start-ups and entrepreneurs, one key highlight from the budget is the capital gains exemption for one more year to 31 March 2022, and secondly they will...

FM Nirmala Sitharaman to presents Union Budget 2021:  Finance Minister Nirmala Sitharaman  is set to present  Union Budget 2021-22 today . She is likely to use a tablet computer to deliver a paperless Budget address. This Budget assumes greater significance as it comes amid the novel coronavirus pandemic, which has led to massive economic disruption in India. As per  Deloitte , the company’s budget recommendations are anchored around three themes: build a stronger foundation today, prepare for tomorrow’s opportunities, and grow beyond borders to make an impact in the long run. Sitharaman proposes discoms assistance scheme with Rs 3 lakh crore outlay. She is use a ' made in India ' tablet computer to deliver a paperless Budget address. Expectations are high that the government will boost economic revival by focussing on infrastructure, healthcare, agriculture, rural economy, MSMEs sectors impacted by the Covid-19 pandemic and lockdown restrictions. Government will all...

With the recent tie-up with ICICI and Marg ERP software expected to bring accounting and banking solutions for MSMEs ,it will also enables automated reconciliation services. The partnership will give access to ICICI Bank internet based cheque writing facility. Marg ERP is positioned as  an Inventory and Accounting software solution company has partnered with ICICI Bank to offer an integrated payments platform to Micro, Small and Medium Enterprise (MSME) customers, using MARG's accounting software. This integration will enable connected banking and also enable ICICI Bank's current account holders to securely connect their bank account with the MARG ERP software and undertake an array of digital transactions from within the ERP platform itself, said Thakur Anup Singh, CMD, Marg ERP. The partnership will provide an array of benefits that will also initiate financial transactions for businesses.... Read More

Contribution of every business vertical is important to make an economy grow, at the same time government also promote business enterprises. In a growing economy like India, government is encouraging business enterprises especially MSMEs (Micro, Small and Medium Enterprises) and SMEs to get digitise as they contribute a major revenue part in the economy.  After the introduction of GST (Goods and Services Tax), to digitally empower MSMEs, Ministry of MSME has launched Digital MSME scheme. It will help MSMEs, the major contributors of Indian economy, to go digital easily.  The objectives behind this are to encourage MSMEs towards new approach i.e Cloud Computing for ICT adoption, adoption of best practices to improve quality of products and services, standardization of their business processes etc.... Read More

Dell EMC has announced that it will deliver comprehensive on-premise digital Enterprise Resource Planning (ERP) solutions to enable Micro, Small & Medium Enterprises (MSMEs) across India to become Goods and Services Tax (GST) ready. SAP’s pre-packaged “GST-in-a- Box’” solution will be available to MSMEs through joint go-to-market initiatives across 30 SAP GST solution centres across 15 cities in India. Through the new solutions, customers can make their businesses GST-ready in 100 days, thereby ensuring minimal disruption when it comes to transitioning to the new tax model while focussing on what they do best.  The Goods and Services Tax (GST), a single-window taxation system, is expected to be a catalyst in the digital transformation of Indian businesses of all sizes, including MSMEs. As per a CII report, this sector contributes up to seven per cent of the manufacturing GDP, 31-per cent of the GDP from service activities and 37 per cent of manufacturing output to the I...

MSME (Micro small and medium enterprises) share a major presence in the Indian economy with a contribution of 37.54% to its GDP. Also, it has been continuing to maintain a strong foothold in the market contributing to nation building. The role of MSME role is very crucial with regard to job creation, employment generation, increase in income of people and the overall economic growth.  The Ministry of MSME with a total budget of Rs. 85.705Cr, including Government of India’s contribution of Rs. 58.105Cr during 2017- 18 to 2019-20 has decided to implement Digital MSME scheme for promotion of information communication technology in the MSME sector. Through this the government envisions to make MSME digital, and plan to promote ICT in MSME industry along with the implementation of the scheme.  The GST regime holds an enormous opportunity for various sectors of the economy and is expected to herald a new era of indirect tax regime. By replacing various indirect taxes, GS...

On the occasion of International Day for MSMEs, SAP today signed a Memorandum of Understanding (MoU) with the Ministry of Micro, Small and Medium Enterprises to jointly launch Bharat ERP.  Bharat ERP is an exclusive program to empower MSMEs with next-gen technology to fuel their digital journey. The MoU was signed in the presence of Kalraj Mishra, Union Minister for Micro, Small and Medium Enterprises, Government of India.  As a part of the MoU, SAP India and the Ministry of MSMEs will collaborate to enable MSMEs become future-ready by helping them focus on innovation and business profitability. The initiative aims to digitally enable nearly 30,000 MSMEs and youth in the next three years as the program expands.... Read More