Reservation in defence capital for domestic manufacturing to help MSMEs: PM Modi

New Delhi, Feb 1 (KNN) Prime Minister Narendra Modi has welcomed the Union Budget 2022 tabled by Finance Minister Nirmala Sitharaman in Parliament saying that this Budget will strengthen India's economy and help India become Atmanirbhar.

Calling it a 'Aatmanirbhar Bharat Ka Budget 2022', PM Modi said that this Union Budget will give a financial boost and benefit the common man with more investment, infrastructure, employment & development opportunities.

PM Modi highlighted that MSMEs will avail significant benefits owing to the defence capital budget reserved at 68 per cent for domestic manufacturers. 

“The MSME sector has been drastically impacted due to the covid-19 pandemic and to mitigate those challenges government took several initiatives,” he added.

Extension of the ECLGS for another year is government’s efforts to safeguard MSMEs. 

I would like to thank Finance Minister Nirmala Sitharaman for a people friendly and progressive budget, said PM Modi in his  concluding remarks. 

"This budget has brought new confidence of development in the midst of 100 years of terrible calamity. This budget, along with strengthening the economy, will create many new opportunities for the common man," PM Modi said.