budget MSME News 2024
MSME News:-Experts say that while the government has recognized the value of these enterprises competing globally, more needs to be done to support them with funds, infrastructure and policy
The Finance Minister recently presented an interim budget before the 2024 elections. This budget gives a broad picture of the government’s finances and plans for the coming year.
MSME stands for Micro, Small and Medium Enterprises. MSMEs refer to the lakhs of small businesses in India like tailoring shops, handloom units, mechanics etc.
Experts feel the interim budget does not really focus much on supporting these MSMEs. There are no special provisions announced for MSMEs this time.
Many MSMEs are still recovering from COVID losses. Without government aid, they may not be able to create more jobs or boost production.
Banks also hesitate to lend to small companies without backing. The budget could have announced a dedicated fund or credit incentives for MSMEs.
In the full budget after elections, experts hope there will be some concrete support measures for MSMEs. This includes easier loans, lower taxes and schemes to improve technology.
In short:
– Interim budget presented before 2024 elections
– No major provisions announced specifically for MSMEs
– MSMEs are small businesses that needed government aid
– Support for MSMEs crucial to boost jobs and manufacturing
– Full budget after elections may focus more on helping MSMEs
Let me know if you have any other questions!
Source:-https://www.forbesindia.com/article/news/interim-budget-2024-has-precious-little-on-msmes/91193/1
MSME News Section: MSME News
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