ENA MSME 2025-02-04 16:08:01 <p><span style="font-size:14px"><strong>Ludhiana, Feb 4 (KNN)</strong> Finance Minister Nirmala Sitharaman's Union Budget 2025, presented on February 1, has drawn varied responses from the small business community in Ludhiana, Punjab's industrial hub hosting over 150,000 MSME units. </span></p> <p><span style="font-size:14px">The budget's revision of capital investment and turnover thresholds for the MSME sector has emerged as a key point of discussion among local industry leaders.</span></p> <p><span style="font-size:14px">Chamber of Industrial and Commercial Undertakings (CICU) President Upkar Singh Ahuja offered a positive assessment, characterising the budget as balanced and aligned with India's economic aspirations. </span></p> <p><span style="font-size:14px">While acknowledging that direct MSME relief measures were limited, Ahuja highlighted the potential long-term benefits of reduced green taxation and enhanced infrastructure support. </span></p> <p><span style="font-size:14px">However, he advocated for further reforms, specifically requesting reductions in corporate tax rates and GST on steel.</span></p> <p><span style="font-size:14px">The Federation of Industrial and Commercial Organisation (FICO) presented a more nuanced perspective through its President, Gurmeet Singh Kular. </span></p> <p><span style="font-size:14px">While FICO welcomed the revised MSME definition as a progressive measure, it expressed concern over the suspension of the Credit Link Capital Subsidy Scheme (CLCSS). </span></p> <p><span style="font-size:14px">Kular emphasised the scheme's crucial role in technological advancement and proposed substantial enhancements, including raising the scheme's limit to Rs 5 crore and increasing the subsidy rate from 15 percent to 25 percent to boost global competitiveness.</span></p> <p><span style="font-size:14px">Industry stakeholders notably expressed disappointment regarding two specific aspects: the absence of a special economic package for Punjab and the government's decision not to rationalise GST rates. </span></p> <p><span style="font-size:14px">These concerns highlight the complex challenges facing Ludhiana's MSME sector, which represents the largest concentration of small businesses in Punjab.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span><br /> </p> 40942 https://knnindia.co.in/news/newsdetails/msme/mixed-reactions-from-ludhianas-msme-sector-budget-2025 2025-02-04 16:08:01 knnindia.co.in