Finance Minister Nirmala Sitharaman today presented the last full budget of Modi government 2.0. Where on one hand tax exemption was announced. On the other hand, the government has taken care of MSEs, farmers and businessmen.
Key points of the budget: Finance Minister Nirmala Sitharaman (FM Nirmala Sitharaman) today presented the last full budget of Modi Government 2.0. Where on one hand tax exemption was announced. On the other hand, the government has taken care of MSEs, farmers and businessmen. Finance Minister Nirmala Sitharaman has said in her speech that a new loan guarantee scheme will be started for MSMEs.
The new credit guarantee scheme for MSMEs will come into effect from April 1, 2023. A fund of Rs 9000 crore has been kept for this scheme. This scheme will help MSMEs to get additional collateral-free loan of Rs 2 crore.
The Finance Minister said, 'MSE is the growth engine of our economy. For micro enterprises with turnover up to Rs 2 crore and professionals with turnover up to Rs 50 lakh, I propose limits of Rs 3 crore and Rs 75 crore respectively.” This will benefit those people whose cash receipts will not exceed 5 percent.
