<p>In order to protect Micro, Small and Medium Enterprises (MSMEs), Finance Minister Nirmala Sitharam proposed a number of schemes for the sector.</p>.<p>One of the objectives of the Modi government 2.0 is helping MSMEs by providing loans up to Rs 1 crore within 59 minutes through a dedicated online portal.</p>.<p>Further, under the Interest Subvention Scheme for MSMEs, 350 crores has been allocated for FY2019-20 for 2% interest subvention for all Goods and Services Tax-registered MSMEs, on fresh or incremental loans.</p>.<p><a href="https://www.deccanherald.com/budget-2019"><strong>Union Budget 2019 | Get the live news updates, views & analysis here</strong></a></p>.<p>"Government payments to suppliers and contractors are a major source of cash flow, especially to SMEs and MSMEs", Sitharaman said in her maiden speech.</p>.<p>She said she believed that investments in MSMEs would receive a big boost if the delay in payments is eliminated. She addressed the issue by introducing a payment platform for MSMEs for bill completion and payments.</p>.<p>The Finance Ministry has decided to extend the pension benefit to about three crore retail traders and small shopkeepers whose annual turnover is less than 1.5 crore under a new scheme called the Pradhan Mantri Karam Yogi Maandhan Scheme.</p>.<p>The Make in India government scheme covers 25 sectors of the economy and encourages companies to manufacture their products in India. That scheme will also put an emphasis on MSMEs.</p>
<p>In order to protect Micro, Small and Medium Enterprises (MSMEs), Finance Minister Nirmala Sitharam proposed a number of schemes for the sector.</p>.<p>One of the objectives of the Modi government 2.0 is helping MSMEs by providing loans up to Rs 1 crore within 59 minutes through a dedicated online portal.</p>.<p>Further, under the Interest Subvention Scheme for MSMEs, 350 crores has been allocated for FY2019-20 for 2% interest subvention for all Goods and Services Tax-registered MSMEs, on fresh or incremental loans.</p>.<p><a href="https://www.deccanherald.com/budget-2019"><strong>Union Budget 2019 | Get the live news updates, views & analysis here</strong></a></p>.<p>"Government payments to suppliers and contractors are a major source of cash flow, especially to SMEs and MSMEs", Sitharaman said in her maiden speech.</p>.<p>She said she believed that investments in MSMEs would receive a big boost if the delay in payments is eliminated. She addressed the issue by introducing a payment platform for MSMEs for bill completion and payments.</p>.<p>The Finance Ministry has decided to extend the pension benefit to about three crore retail traders and small shopkeepers whose annual turnover is less than 1.5 crore under a new scheme called the Pradhan Mantri Karam Yogi Maandhan Scheme.</p>.<p>The Make in India government scheme covers 25 sectors of the economy and encourages companies to manufacture their products in India. That scheme will also put an emphasis on MSMEs.</p>
