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[ad_1] Ease of Doing Business for MSMEs: Public procurement portal Government eMarketplace (GeM) has hit another milestone of 1 crore total orders processed so far, around a month after its seller base crossed the 40-lakh count. The number of orders almost doubled from 55.74 lakh orders processed as of January 2021, indicating four-and-a-half years the portal took to achieve that mark while the remaining orders came in following around 16 months only. GeM had also achieved Rs 1 lakh crore in order value in the financial year 2021-22.   Launched in August 2016, the portal had processed 1,00,54,211 orders worth Rs 2.44 lakh crore from 60,074 government buyers including public sector units and government departments, data from the portal showed. Currently, there are nearly 43 lakh sellers. The growth was largely witnessed post Covid as the government urged central and state buyers for digital procurement of goods including Covid essentials such as PPE kits and masks from MSME sellers. However, not all 43 lakh sellers may have contributed to the 1 crore-order mark. A number of them are inactive sellers and hence, GeM is looking to delist them, GeM’s Chief Executive Officer Prashant Kumar Singh had told Financial Express Online in an interaction in March this year. “GeM is integrated with the Udyam registration portal, hence a lot of sellers were directly registered on our portal because of their Udyam registration. Also, there might be other sellers who perhaps are not interested in selling on GeM,” Singh had said.  Subscribe to Financial Express SME newsletter now: Your weekly dose of news, views, and updates from the world of micro, small, and medium enterprises  Not just seller base, the product category count is also being trimmed. From around 16,000 categories last year, the number was narrowed to 10,143 in March this year and currently it is reduced to 9,702. “We have removed around 6,000 categories three months back that had problems such as sellers were not onboarded properly or there were negligible sellers or products were not in demand in those categories,” Singh had added.  [ad_2] Source link

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[ad_1] Spinner Wanindu Hasaranga picked up a five-wicket haul after skipper Faf du Plessis’ impactful half-century as Royal Challengers recorded a 67-run victory over Sunrisers Hyderabad to boost their play-off hopes in the IPL here on Sunday. Opting to bat on a slow surface, du Plessis led from the front with a 50-ball 73 not out, while Dinesh Karthik (eight-ball 30 not out) provided the late flourish as RCB overcame an anxious start to post 192/3. In response, Sunrisers Hyderabad were skittled out for 125 to crash to their fourth loss on the trot as Hasaranga stymied their chase with figures of 4-1-18-5. The win also avenged their shocking nine-wicket loss to Hyderabad in the first leg at the Brabourne where Bangalore had collapsed to 68 fallout. Making amend for a sloppy outing on the field, Hasaranga cleverly used his wrong ones and derailed their chase in the middle overs with wickets of the hardhitting Nicholas Pooran and Jagadeesha Suchith in successive overs. The Lankan then ended his spell in style with a double-wicket maiden, dismissing Shashank Singh and Umran Malik in successive deliveries to virtually seal it for Bangalore. With this, he became the second bowler after Yuzvendra Chahal to get past the 20-wicket mark in the IPL. Hasaranga is now one wicket shy of current Purple Cap holder Chahal’s tally of 22. Hyderabad No 3 Rahul Tripathi made a fine 58 to keep them in the hunt but Josh Hazlewood (2/17) dismissed him and followed it up with the wicket of Kartik Tyagi next ball. For Bangalore, it was their second win in a row, coming on the back of a hattrick of defeats as they firmed up their place inside top-four. Likewise Bangalore, Hyderabad too had a jittery start and went on to lose two wickets in the first over in their tall chase of 193. Like Kohli, Williamson also went for a golden duck in a rare instance — only third in IPL — that a wicket fell on the first ball of both the innings. Earlier, Du Plessis slammed eight boundaries and two sixes en route to his third fifty this season and seized the initiative after he lost his opening partner Virat Kohli. The South African veteran along with Rajat Patidar (48 in 38 balls; 4×4, 2×6) laid a solid foundation with a 105-run second wicket partnership off 73 balls. But Hyderabad bowlers led by spinner Jagadeesha Suchith (2/30) and Bhuvneshwar Kumar (0/34) slowed things a bit in the middle overs before Dinesh Karthik gave a last-over flourish (25 runs) to prop up the total. Making full use of a reprieve by Rahul Tripathi in the third ball of the final over, the Indian experienced wicketkeeper-batter went on to make a quickfire eight-ball 30 not out. He smashed four sixes, three of them coming in succession followed by a boundary in the last over against Afghanistan debutant Fazalhaq Farooqi, en route to his entertaining cameo. Hyderabad had their solitary moment of glory, the very first ball of the game when Kohli (0) got out for a third golden duck this season, sixth overall in IPL. This was also his second golden duck against the same team season. Enduring his worst-ever IPL — 216 runs from 12 innings at 19.6 — Kohli had one soft dismissal off a Suchith half volley drifting onto his pads, and the star batter managed to flick it straight to Williamson at short midwicket. It was all about RCB thereafter as Du Plessis and the young Patidar seized the momentum with their counter-attacking approach. Hyderabad young speed merchant Umran Malik bowled back of the length on what was a slow pitch and the batters had all the time on offer to take him to cleaners in his first over that yielded 20 runs. Well-settled Patidar however missed his fifty by two runs becoming Suchith’s second victim, miscuing one in the 13th over. [ad_2] Source link

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[ad_1] The cost accountants’ institute has requested the government to consider allowing cost and management accountants to conduct financial audit of MSMEs and private limited companies. The Institute of Cost Accountants of India, set up under an Act of Parliament, has around 90,000 members and about 5 lakh students. Seeking to ensure competition as well as parity among cost and management accountants, and chartered accountants, the institute has asked the government to allow its members to do various activities, including the tax audit under the Income Tax Act, 1961. The institute has also sought permission for conducting financial audit of MSMEs (Micro, Small and Medium Enterprises) and private limited companies as per global standards, concurrent audit of banks and audit of grant-in-aid of grantee organisations/ institutions. In this regard, the institute, last month, submitted a memorandum to Finance and Corporate Affairs Minister Nirmala Sitharaman. The institute’s President P Raju Iyer recently told PTI that allowing cost and management accountants to carry out financial audits of MSMEs and private limited companies as well as certain other activities will help in effectively creating competition as well as provide value for services. Iyer also welcomed the recent amendments made to laws governing the functioning of the institutes of cost accountants, chartered accountants and company secretaries. On April 5, Parliament passed the Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2022. Chartered accountants’ apex body ICAI had some concerns about certain provisions in the bill. Among others, the cost accountants’ institute, which comes under the corporate affairs ministry, has been seeking a change in its name as ‘The Institute of Cost and Management Accountants of India’. [ad_2] Source link

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[ad_1] Russia’s war in Ukraine: Live updates  CNN Russia-Ukraine war: what we know on day 74 of the invasion  The Guardian Sixty feared dead in Ukraine school bombed by Russia, governor says  Reuters Ukrainian says Russia of bombed Luhansk school with 90 inside  The Hill Russia-Ukraine war: dozens feared dead after bombing of Luhansk school; Kyiv claims sinking of second Russian ship – live  The Guardian View Full Coverage on Google News [ad_2]