I wholeheartedly welcome the Government’s initiatives to boost exports, manufacturing, and MSME growth. The Export Support Mission and National Manufacturing Mission are significant steps towards furthering the Make in India vision.
By facilitating easy access to export credit, cross-border factoring support, and tackling non-tariff measures, the Government is addressing critical pain points for exporters.
The customised credit cards for MSMEs, fund of funds for startups, and expanded fund-of-funds will undoubtedly improve capital access and stimulate growth. Enhancing investment and turnover limits for MSMEs will also provide a much-needed boost to their operational efficiency. The Government’s focus on MSMEs, which account for 45 per cent of the country’s exports, is particularly commendable.
Also, the revised income tax slab, with zero income tax liability for those with annual income up to Rs 12 lakh, will increase disposable income and drive consumption.
The education sector has received a significant boost, with the announcement of 50,000 Atal Tinkering Labs, expansion of capacity in IITs, and the establishment of a Centre of Excellence in Artificial Intelligence. These initiatives will foster a culture of innovation, entrepreneurship, and skill development among our youth.
The expansion of medical education, with the addition of 10,000 seats in medical colleges and hospitals, will also address the shortage of medical professionals and improve healthcare outcomes.
Mahesh Gupta(CMD, Kent RO)