India

Budget 2024: Government Unveils Measures To Boost MSMEs And Non-Farming Businesses

In a significant move to revitalize the non-farming business community and Micro, Small, and Medium Enterprises (MSMEs), Finance Minister Nirmala Sitharaman announced a series of measures in the Union Budget 2024-2025 on Tuesday.

The government has enhanced the Mudra loan limit to Rs 20 lakh from Rs 10 lakh, benefiting those who have previously availed and repaid Mudra loans. The Pradhan Mantri Mudra Yojana (PMMY) scheme, which provides micro credit to non-farm sector enterprises, will see this extension.

Also Read: Budget 2024: Centre Announces Landmark Projects And Funding For Bihar And Andhra Pradesh

Additionally, the budget focuses on supporting MSMEs and manufacturing. A credit guarantee scheme for MSMEs in the manufacturing sector will facilitate term loans for machinery purchase. A comprehensive package will also be formulated to provide technology support to MSMEs.

These measures aim to boost the sentiments of the non-farming business community and MSMEs, driving growth and development in the sector. The government’s efforts to enhance financial assistance and provide technological support are expected to have a positive impact on the economy.

Richa Kaushik

Recent Posts

JP Nadda Slams Rahul Gandhi’s ‘Match-Fixing’ Claims As ‘Desperation Of Losing’ Polls

Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…

6 hours ago

Poverty In India Reduced Via Tangible Boost In Household Living Standards, Incomes

In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…

6 hours ago

Chhattisgarh: Seven Maoists Killed In Indravati National Park Operation

Five Maoists were killed in two separate encounters with security forces in Chhattisgarh’s Bijapur district,…

7 hours ago

Carney Invites Modi To G7 Summit, Highlights India’s Global Supply Chain Role

Canadian Prime Minister Mark Carney said the most populous country, with the fifth-largest economy, must…

7 hours ago

RBI Frontloads Rate Cuts To Boost Growth Amid Low Inflation: Crisil

The Reserve Bank of India (RBI) has frontloaded its rate cuts to support economic growth,…

8 hours ago

PM Modi Urges Global Action On Coastal Resilience At Nice Summit

PM Narendra Modi on Saturday called for urgent global action to build infrastructure that can…

8 hours ago