New Delhi, Feb 2 (KNN) Interim budget 2019 announced by Finance Minister Piyush Goyal has the highest ever budget allocation for MSME sector, said  Dr. Arun Kumar Panda, Secretary, Ministry of MSME.

Speaking to KNN India about 2% interest subvention for MSMEs he said, “Government has allocated Rs 350 crore to MSME Ministry which will help in meeting the requirement of 2% interest subvention announced by Goyal.”

“Announcements made on GST Composition scheme will also help a lot of MSMEs,” Panda said.

He said, “The flagship scheme for employment generation of the Ministry, namely Prime Minister Employment Generation Programme (PMEGP) got an all-time high allocation of Rs.2327 crore.”

Panda added, “This reiterates Government’s focus on creation of sustainable employment in the non-farm micro enterprise sector.”

Speaking about the cash flow to MSME’s he mentioned, “For ensuring seamless credit guarantee to Micro and Small enterprises, Rs.597 crore has been provided under the Credit Support Programme.”