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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: Analysis of Budget impact on MSMEs
The budget places special attention on MSMEs and labour-intensive manufacturing, introducing a new assessment model for MSME credit by public sector banks based on digital footprints rather than only on assets and turnover criteria. Read more
Budget 2024: 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: 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
Budget 24-25: Rs 11.11111 trillion allocated for capital expenditure
To encourage the states to provide support of similar scale for infrastructure, the Finance Minister Smt Nirmala Sitharaman announced a provision of Rs 1.5 trillion for long-term interest free loans this year. Read more
Budget 24-25: Customs duty reforms will help manufacturing and promote exports
New customs duty rates are proposed for commodities from lifesaving medicines to rare earth minerals.Read more
Budget 24-25: 12 ‘plug & play’ industrial parks to be created under NICDP
The Union Budget 2024-25 proposes to revamp ShramSuvidha and Samadhan portals to enhance ease of compliance for industry and trade, with intent to strengthen them and step up their implementation for expediting our journey towards the goal of Viksit Bharat. Read more
Poly Medicure calls for import substitution in upcoming Budget; Himanshu Baid
Currently around 70% of medical devices and equipment worth nearly Rs 500 billion used in India are imported. The current duty structure for these imports ranges from 7.5% to 10%.Read more
EV industry wants incentives and tax rationalisation from budget
India's EV industry is hoping for the introduction of the FAME- III scheme, allocation of funds for public charging infrastructure, incentives for localising components, and a reduction in GST on EVs.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