The Union Budget 2024-25 presentation by Finance Minister Nirmala Sitharaman included the announcement of fresh measures aimed at boosting the MSME sector.
During her seventh budget address and the initial Union Budget introduced by the new NDA administration, Finance Minister Nirmala Sitharaman unveiled a variety of initiatives designed to enhance the micro, small, and medium enterprise (MSME) sector.
अपने सातवें बजट भाषण और नए एनडीए प्रशासन द्वारा पेश किए गए प्रारंभिक केंद्रीय बजट के दौरान, वित्त मंत्री निर्मला सीतारमण ने सूक्ष्म, लघु और मध्यम उद्यम (एमएसएमई) क्षेत्र को बढ़ाने के लिए डिज़ाइन की गई कई पहलों का अनावरण किया।
The Budget was highlighted for its focus on MSMEs and labor-intensive manufacturing by Ms. Sitharaman. She mentioned that the government has designed a comprehensive package offering financial and technological assistance to MSMEs in order to boost their development. Additionally, she revealed the introduction of a credit guarantee scheme to streamline term loans for machinery, eliminating the need for collateral or third-party guarantee. A self-financing guarantee fund will also be established to provide coverage of up to Rs. 100 crore for each borrower, with the possibility of higher loan amounts.
Ms. Sitharaman emphasized the special attention given to MSMEs and labor-intensive manufacturing in the Budget. She stated that the government has devised a package that includes financial and technological support for MSMEs to enhance their growth. Furthermore, she declared the implementation of a credit guarantee scheme to facilitate term loans for machinery without requiring collateral or third-party guarantee. A self-financing guarantee fund will be set up to offer coverage of up to Rs. 100 crore for each borrower, with the potential for higher loan amounts.