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.
Gautam Adani, Chairman of the Adani Group, visited Puri in Odisha during the annual Rath…
Acharya Pramod Krishnam, stirred political debate by claiming an 'internal emergency' still exists within the…
Taking a crucial step toward positive transformation, social reform, and global peace, the Muslim Rashtriya…
India has been chosen to host the prestigious 2029 World Police and Fire Games in…
Gautam Adani, along with his wife and Karan, participated in the Rath Yatra in Puri,…
PM Narendra Modi interacted with Group Captain Shubhanshu Shukla, the first Indian to reach the…