Govt provided Rs 15,700 cr for MSME sector in Union Budget

New Delhi, Feb 1 (KNN) Union Finance Minister Nirmala Sitharaman has provided Rs 15,700 crore for the Ministry of Micro, Small and Medium Enterprises (MSME) sector in the Union Budget 2021-22.

"We have taken a number of steps to support the MSME sector in this budget. I have provided Rs 15,700 crore more than double the previous year," said Sitharaman while presenting the Union Budget in the Parliament on Monday.

The Government also proposes to reduce margin money requirements from 25 per cent to 15 per cent for startups.

The Union Budget 2021-22 proposals rest on six pillars: Health and well-being, physical and financial capital and infrastructure, inclusive development for aspirational India reinvigorating human capital, innovation and R&D, minimum government and maximum governance.