Union Budget Comment - Maditssia president Rm. Lakshminarayanan

Business MInutes

Loan facility for purchase of machinery through Without Collateral in Credit Guarantee program and provision of 100 crore corpus fund is welcomed.


It is welcomed that the limit of Mudra loan scheme for small and micro enterprises has been increased from Rs.10 lakh to Rs.20 lakh.


The introduction of a special scheme (Stress) to help small and micro enterprises in times of crisis is welcomed.


It is welcomed to announce the establishment of e-commerce export centers and dormitory for workers in PPP model with government and private participation.


The allocation of Rs.11.1 lakh crore for infrastructure development is welcomed.


It is welcomed that 12 industrial parks across the country will be set up and approved soon.


The announcement of imparting skill development training to 20 lakh youth in 5 years is welcomed. Through this, companies have the opportunity to get skilled labor.


The announcement that the Janvishwas 200 Bill will be introduced to make it easier to start a new business is welcomed.


The changes in personal income tax are welcomed.


What is not expected in the budget:


MSMEs are the second largest source of employment after agriculture and MSMEs also provide loans to industry at low interest rates.


Infrastructures like Road and street lights for industrial estates at 90% subsidy for new and old industrial estates through IID (Integrated Infrastructure Development) scheme.


In order to increase the use of solar energy, 25 percent subsidy should be provided by SIDBI to MSME companies in case of installation of solar energy.


MSMEs will have to pay 75 percent subsidy on the new technologies they use while doing technology upgradation.


It is sad that the GST laws have been simplified and no changes have been made to the tax.


MSMEs go bankrupt due to many reasons which lead to banks confiscating their houses to avoid this MSME insurance should be implemented.

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