Budget

With the government recognizing the sector's potential as a significant contributor to the digital economy, industry stakeholders have high expectations from the upcoming budget.

The GST reform holds immense potential to bolster India's MSME sector, but its current framework requires critical refinements to address its challenges. The upcoming budget is expected to make major reforms for MSMEs as the backbone of the country.

With consumption accounting for over 60 percent of India's GDP, boosting disposable income is critical to reviving demand

Although India maintains its position as one of the biggest economies in the world, GDP growth has recently plummeted to a 7-quarter low of 5.4 per cent in the second quarter of FY25.

Sector-wise, the survey anticipates agriculture and allied activities to grow at 3.6 per cent, industry at 6.3 per cent, and services at a robust 7.3 per cent

Representing nearly 30 per cent of India's GDP and employing over 110 million people, the MSME sector is a cornerstone of the Indian economy. As India aspires to become a $5 trillion economy, empowering its MSME sector will be critical in realizing this ambitious vision.

Among the demands and suggestions posed by the ecosystem players, the reduction of tax on virtual digital assets (VDA) and Tax Deducted at Source (TDS) remain a prime concern. The previous interim budget and union budget failed to provide any relief for domestic crypto investors.

The INR 100 crore credit guarantee scheme is expected to serve as a vital catalyst for MSME growth and resilience by enabling businesses to secure financing without traditional barriers. Industry experts agree that this program has the potential to unlock new avenues of opportunity for MSMEs, encouraging entrepreneurship, fostering local manufacturing, and contributing to the nation's export ecosystem.

The micro small & medium enterprises act as the backbone of the country, keeping the economy flowing as well as providing quality services to the masses

Much rejoicing was seen in the startup community and especially among the industry leaders from the 'Funds' side of things, as the Indian Central Government abolished what was known as 'Angel Tax' in a historic budget announcement led by Finance Minister Nirmala Sitharaman.

Finance Minister Nirmala Sitharaman announced the Budget for 2024, giving a significant boost to MSMEs through a self-financing guarantee fund providing coverage of up to INR 100 crore per applicant

The country, in recent times, has made exponential growth in the space race with Chandrayaan2, Chandrayaan-3, and Aditya-L1

Stakeholders anticipate that augmented budget allocations will play a pivotal role in India's success on the international stage, facilitating grassroots development.

Union Finance Minister Nirmala Sitharaman presented the Interim Budget today, ahead of the Lok Sabha elections in 2024.

During the presentation of the Interim Budget on February 1, Finance Minister Nirmala Sitharaman announced that as many as, "1.4 crore youth have undergone training and upskilling initiatives under the Skill India Mission."

Union finance minister Nirmala Sitharaman presented the interim budget today, her sixth Budget as the finance minister.

Industry leaders emphasize the need to introduce measures that would boost consumption in the rural pockets

As per industry insights, India has received a total funding of $1.6 billion in agritech startups till 2021, making it the third largest country in the world with regard to agritech funding

The meetings were held in virtual mode between November 21 and November 28

The survey reported that 65 per cent of the business executives feel cyber criminals will significantly affect their organization in 2023 compared with 2022

The budget allocation for the education sectors should be increased by at least 9-10 per cent compared with the previous year