16 MAR, 2012, 10.08PM IST, AGENCIES
NEW DELHI: The Automotive Component Manufacturers Association of India (ACMA) on Friday welcomed the Union Budget 2012-13 and its focus on the manufacturing and MSME sectors.
"ACMA welcomes the focus on manufacturing, especially the Micro, Small and Medium enterprises (MSMEs). MSMEs constitute over 70% of ACMA's membership and access to capital has been one of the major constraints for the sector. We hope that setting up of the Rs. 5,000 crore 'India Opportunity Venture Fund' will enable the sector access the much-needed capital," it said in a statement.
It also said that it was happy about the weighted deduction of 200% on expenditure on R&D being extended for another 5 years, which will motivate the industry to focus on innovations and new product development.
"Shortage of skilled manpower has been an issue of significant concern to the industry; the introduction of weighted deduction of 150% on expenditure on skill development of employees will help in mitigating the concern," it said.
(Source : http://economictimes.indiatimes.com/news/emerging-businesses/sme-sector/budget-2012-focus-on-msmes-welcome-says-acma/articleshow/12296750.cms)
NEW DELHI: The Automotive Component Manufacturers Association of India (ACMA) on Friday welcomed the Union Budget 2012-13 and its focus on the manufacturing and MSME sectors.
"ACMA welcomes the focus on manufacturing, especially the Micro, Small and Medium enterprises (MSMEs). MSMEs constitute over 70% of ACMA's membership and access to capital has been one of the major constraints for the sector. We hope that setting up of the Rs. 5,000 crore 'India Opportunity Venture Fund' will enable the sector access the much-needed capital," it said in a statement.
It also said that it was happy about the weighted deduction of 200% on expenditure on R&D being extended for another 5 years, which will motivate the industry to focus on innovations and new product development.
"Shortage of skilled manpower has been an issue of significant concern to the industry; the introduction of weighted deduction of 150% on expenditure on skill development of employees will help in mitigating the concern," it said.
(Source : http://economictimes.indiatimes.com/news/emerging-businesses/sme-sector/budget-2012-focus-on-msmes-welcome-says-acma/articleshow/12296750.cms)
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