How many funds allocated for SMEs/MSMEs in 2024 according to the interim budget

MSME news:

MSME news Unfortunately, the Interim Budget 2024-25 presented in February 2024 doesn’t explicitly mention a specific allocation for SMEs/MSME. It’s important to understand that an interim budget, by nature, focuses on ongoing expenses and doesn’t typically introduce major new schemes or allocations.

However, there are other initiatives in the budget that can indirectly benefit SMEs:

Increased capital expenditure: The budget proposes an 11.1% increase in capital expenditure to ₹11,11,111 crore, which could create demand for goods and services from SMEs involved in infrastructure and construction.
Focus on innovation and entrepreneurship: The budget mentions the “Jai Anusandhan” scheme with a ₹1 lakh crore corpus fund for interest-free loans for research and innovation, which could benefit innovative SMEs.
No change in tax rates: The continuation of existing tax rates provides some stability for SMEs.

Additionally, various government ministries and departments have individual budget allocations that might include funds for SME/MSME-related programs. Examining their budgets could provide further insights.

It’s crucial to remember that a full-fledged budget is expected in July 2024, which might offer a clearer picture of specific allocations for SMEs. Stay tuned for further updates then.