In most of the developing countries like India, Small Scale Industries SSI constitute an important and crucial segment of the industrial sector. They play an important role in employment creation, resource utilisation and income generation and helping to promote changes in a gradual and phased manner. They have been given an important place in the framework of Indian planning since beginning both for economic and ideological reasons.
Share In the planning era, the percentage of population dependent on agriculture has remained more or less unchanged. In absolute terms, the number of agriculture dependent population has increased leading to wide spread unemployment and underemployment, causing mass poverty. India may be regarded as a labor-surplus.
At the same time, it is constrained by the shortage of capita, entrepreneurial talent and a developed infrastructure. Small scale industries which can be established even in remote rural area, can absorb the surplus manpower from agriculture.
It was in recognition of the fact that even the Nehru Mahalanobis industrialization strategy, which postulated an overriding priority to the large scale capital goods sector, advocated the development of small industries. Secondly, small scale industries can be located in rural areas facilitating rural development.
Thirdly, these industries largely cater to the consumer goods market. Fourthly, these require less capital and less skill than their large-scale counterpart and can play an important role.
Taking these factors into consideration, both the Central and State Governments established various types of marketing and financial institutions to promote and support different types of industries in rural areas.
See all related question in bachelor of social work.Home» Finance Wiki» Banking» List of Abbreviations used in Banking Industry. List of Abbreviations used in Banking Industry. Posted on Admin; in Banking; on August 1, Bharatiya Reserve Bank Note Mudran Private Limited: BSA: Small Scale Industries: SSS: Securities Settlement System: SSSBEs: Small Scale Service & Business Enterprises.
Grand Card Industries & Ors (“the Respondent” or “the assessee”) were small scale industrial unit (“SSI Unit”) and at the relevant point of time eligible for benefit of the exemption on clearances upto aggregate value of Rs.
30 Lakhs in terms of the Notification No. 1/CE dated February 28, (“the Notification”).
The said. POR Ltd would have paid excise duty on components manufactured by it and it would have recovered that excise duty in its sales price from ABC Ltd. Answer SIDO is created for development of various small scale units in different areas.1 Write a note on new small enterprise policy – a manufacturer can take credit.3 Discuss MODVAT in detail.
All small-scale industries except those falling within the specialized boards and agencies like KVIC, Coir Boards, Central Silk Board, etc. fall under the purview of the SIDO. Let us have a look at the main functions performed by the SIDO in each of its three categories of functions.
This amounts to multiple taxation.1 Write a note on new small enterprise policy – To help them get updated in various information related to the small-scale industries activities.
• • • • • • • • • Disadvantages of Modvat • It increases paper work and leads to . Secondly, small scale industries can be located in rural areas facilitating rural development.
Thirdly, these industries largely cater to the consumer goods market. Fourthly, these require less capital and less skill than their large-scale counterpart and can play an important role. in alleviating poverty and unemployment.