Union Budget 2025 Takeaway |What FM Nirmala Sitharaman said about MSMEs

Nirmala Sitharaman presented her historic eighth Budget on February 1, 2025.

Finance Minister Nirmala Sitharaman presented her record eighth Budget this year. After the Budget was presented in the Lok Sabha, the FM also presented the document in the Rajya Sabha.

"With quality products, MSMEs are responsible for 45 pc of our exports", FM Sitharaman noted.

She said that "Investment and turnover limit for classification of MSMEs would be enhanced".

Sitharaman also announced that the government would set up a urea plant with a 12.7 lakh tonne capacity in Assam.

She said "India Post to be transformed into large public logistic organisation with 1.5 lakh rural post offices to become catalyst for rural economy"..

FM Sitharaman added, "Govt to provide support to National Cooperatives Development Corporation for lending operations.".

"Govt to enhance credit guarantee cover for MSMEs to improve credit access" FM said.

"Govt to enhance limit for interest subvention scheme for Kisan Credit Card from Rs 3 lakh to Rs 5 lakh", she added.

She said the govt would introduce customised credit cards with Rs 5 lakh limit for micro-enterprises.

"Term loan of up to Rs 20 crore for well-run export oriented MSMEs," she said.

The Union Budget 2025 is the second Budget presented under the Modi 3.0 government, the first having come after the Lok Sabha elections.

Like the previous Budgets, this has kept in mind the government's goal of Viksit Bharat by 2047.

Yesterday, FM Sitharaman tabled the Economic Survey, which projects India's GDP to grow in the range of 6.3-6.8 per cent.In the last Budget, presented in June after NDA won the Lok Sabha polls, FM proposed new income tax slabs -- up to Rs 3 lakh nil, Rs 3-7L 5%, Rs 7-10L 10%, Rs 10-12L 15%, Rs 12-15L 20%, above Rs 15L 30%.

Fiscal deficit was estimated at 4.9 per cent of GDP and Sitharaman had stated the government aimed to reach 4.5 per cent fiscal deficit in 2025-26.

Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.