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Budget FY25 Decoded!
With emphasis on infrastructure, skill development, MSMEs, and manufacturing, the FY25 budget aims to drive India’s manufacturing-led expansion and exports. However, there are some missed opportunities as well. SME deciphers the short and long term impact of the budget with industry experts.Read more
Lazard report suggests India is on track on becoming a global manufacturing hub
Finance Minister Nirmala Sitharaman emphasised support for MSMEs and labour-intensive manufacturing, including the extension of the Mudra loan limit from Rs 1 million to Rs 2 million.Read more
Government to develop parks and dormitories near manufacturing clusters
Twelve industrial parks under the National Industrial Corridor Development Programme will also be sanctioned, with significant progress already in Uttar Pradesh and Tamil Nadu. Read more
Will Budget 2024-25 benefit the manufacturing industry?
The manufacturing sector is crucial for job creation, export growth, and overall economic development. Read more
Union Budget bolsters the manufacturing industry and MSMEs
MSMEs contributed 35.4% to all-India manufacturing output in FY 22, and MSME-made products accounted for 45.7% of exports in FY 24.Read more
Budget 2024-25: A focus on skill development
These will be based on enrolment in the EPFO, and focus on recognition of first-time employees, and support to employees and employers. Read more
Budget 2024-25: 8 measures in support of MSMEs
The FM said that the Government has formulated a package that covers financing, regulatory changes and technology support for MSMEs.Read more
Govt expected to relax 45-day payment rule for MSMEs in upcoming Budget
MSMEs have raised concerns that this provision could lead large buyers to avoid MSME suppliers, opting instead for non-MSMEs or those not registered with Udyam. Read more
Focus on incremental reforms
According to a recent report of DSP Mutual Fund, the manufacturing sector's contribution to India's GDP is anticipated to rise from 14 per cent in FY24 to 21 per cent by FY34, bolstered by lower logistics costs and improved infrastructure. Read more
Section 43B(h): Boon turning into bane
India is home to the world’s biggest micro, small and medium enterprises (MSMEs) community (more than 60 million) who contribute around 29.7 per cent of the country’s GDP. Read more