Budget attempts to give MSMEs which lack behind due to constraints a big boost: Adhia
Finance Secretary Hasmukh Adhia said the Union Budget attempted to give a big boost to the micro, small and medium enterprises (MSME) sectors that are linked with large enterprises but lack behind due to some constraints like delayed payments from OEM buyers.
In order to improve the situation of MSMEs they need timely credit, he stressed.
He was speaking at the FICCI Executive Committee Meeting.
He said “The effort of the government in capitalizing banks to the tune of Rs 5 lakh crore should come as a measure of relief to MSMEs as they would be able to tap the banks for their credit needs”.
Adhia said the key stone behind this year’s Union Budget was to place more money into the rural sector so as to increase consumer demand , and support industry to utilize capacities in a better way and attract new investment opportunities. (KNN/YV)