This Budget can be a game-changer for the MSME sector which contributes 32 per cent to GDP and 45 pc to exports. However, I do hope that new schemes under this Budget trickle down to banks and from the banks to the MSME sector quickly and efficiently.
The creation of Export Promotion Mission, sectoral and ministerial targets for easy access to export credit, BharatTradeNet for international trade documentation and financing solutions, warehousing facility for air cargo to support high-value perishable goods, and focus on footwear & leather industry are great initiatives to boost exports.
In addition, tourism will get a major boost by way of development of top 50 tourist destinations in partnership with states.
Middle Class gets a bonanza beyond expectations in terms of significant savings in income tax. Creation of PM Dhan Dhanya Krishi Yojna will benefit 1.6 crore farmers across the country. I am also glad that IITs are getting more funds for development of research facilities.
Overall, a superb and a sustainable growth-oriented Budget which deserves three cheers!
IIT comment
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