MSME loans, exports, jobs, and other policy changes expected from new Modi govt: Report

Image source: Reuters Jun 26, 2024 Mohammed Ramees

Expected in the upcoming budget, the changes could be around providing higher indemnity to banks for MSME loans to MSMEs, as per a CNBC-TV18 report

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Moreover, backward linkages for MSMEs to PLI schemes and setting up a new institute to boost credit to small businesses and exports

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Further, the Atal Innovation Mission could be revamped for greater emphasis on entrepreneurship and job creation

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Additional allocation is also expected for the aspirational districts programme in the upcoming budget

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The budget may also revise the 45-day payment rule for MSMEs to address their delayed payment challenges

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Nirmala Sitharaman in May this year had said the government would consider repealing changes to Section 43B of the IT Act for delayed payments

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Earlier, traders body FAIVM had urged the government to extend the payment period for MSMEs to up to 180 days

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The budget is expected to be presented in the last week of July by Nirmala Sitharaman

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