Rs 15700 Crore provided for the MSME sector in the union budget 2021-22, as per the Finance Minister of India, Nirmala Sitharam.
While conferring the Budget, she responded, only three times has the Budget followed a recession in the economy this term.
Unlike before, the circumstance is because of a global pandemic.
Budget for the Ministry of Micro, Small and Medium Enterprises (MSME)
renders every opportunity for the economy to captivate the momentum and increase sustainably
“We have taken several steps to support the MSME sector in this budget. I have provided Rs 15,700 crore more than double the previous year,” said Ms. Sitharaman while granting the Union Budget in Parliament of India.
She further added, “The preparation of this Budget was undertaken in circumstances like never, because of calamities that have affected a country or a region within a country. But what we have endured with COVID-19 to 2020 is Sui generis,”
To extra facilitate credit flow under the scheme of Stand Up India for the SC/ST, and also women, I propose to reduce the margin money requirement from 25 percent and 15 percent only and to also include loans for activities in allied activities in agriculture,” the Finance Minister continued.
The Union Budget 2021-22 proposals stands on six pillars:
- Health and well-being, physical and financial capital, and infrastructure.
- Inclusive development for aspirational India reinvigorating human capital, innovation and R&D, minimum government and maximum governance