Budget 2020: Entrepreneurs seek benefits in MSME sector

Budget 2020: Indian entrepreneurs seek long-term benefits in MSME sector

Representative image.
By Mr. Puneet and Mr Yatin Jain
Over 6 crores MSMEs are sharing around 29 per cent to India’s GDP and they expect the government will introduce favourable policies and allocate substantial funds for the growth of MSMEs. Presently, out of 32,385 applications filed by MSMEs, 2,031 applications have been disposed of by the government under the delayed payment monitoring system called MSME Samadhaan. Apart from the lack of access to capital, infrastructure, skilled labour and power supply issues are some of the problems that plague MSMEs in India. Therefore, Indian entrepreneur hopes that the Union Budget 2020 will provide some long-term benefits to the MSME sector with better access to credit and lenient taxation policies. 
(The authors are Directors at ODHNI)