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FOIJ hails govt support to MSME sector in Union Budget

Updated: Feb 01, 2023 11:14:45am
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FOIJ hails govt support to MSME sector in Union Budget

New Delhi, Feb 1 (KNN) The Federation of Industries, Jammu (FOIJ) has praised the Union budget, calling it Industry Friendly and beneficial for all sections of society of Union Territory of Jammu & Kashmir.

The association has welcomed the proposals for the speedy Development of MSME Sector as well as for the Corporate Sector within Jammu & Kashmir and other parts of the Country.

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Among the highlights of budget speech was the announcement of the launch of a revamped credit guarantee scheme worth Rs 9,000 crore for MSMEs. Union Finance Minister Nirmala Sitharaman said this would enable collateral-free credit of Rs 2 lakh crore loans to the small businesses.

Lalit Mahajan, Chairman Federation of Industries, Jammu has lauded the government on the introduction of PM VIshwakarma KAushal Samman (PM VIKAS) to improve the quality, scale and reach of the products made by the artisans and help them integrate with the MSME value chain.

FOIJ is also satisfied with centre’s decision to continue the credit guarantee scheme for MSMEs and expanding it by Rs 2 lakh crore.

The Jammu based association has appealed to the government to provide adequate funds for the Development of Industrial Infrastructure which includes the completion of Industrial Estates in time bound manner in Union Territory of Jammu & Kashmir on priority basis enabling the prospective Entrepreneurs to start the production in time bound manner.

The Entrepreneurship Development Institute of India (EDII) said that the budget highlights inclusive growth and economy for the Amrit Kaal.

Sunil Shukla, Director General, EDII pointed out that the Budget is inclined towards encouraging the aspirations of young India and emphasizes on skilling, entrepreneurship, startups, and the ease of doing business.

“The PM Vishwakarma Kaushal Samman (PM VIKAS) package for traditional artisans and craftsperson’s will boost the handicraft and handloom sectors,” he said.

The Entrepreneurship Development Institute said that the provision of agriculture accelerator fund will encourage agri startups and entrepreneurship in rural India.  (KNN Bureau)

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