Budget 2019: Piyush Goyal solves MSME's credit line woes? Check reaction
In budget 2019 proposals made by Piyush Goyal will provide stimuli to local manufacturers with incentives for them to grow and prosper
The Micro, Small and Medium Enterprises (MSMEs) have welcomed the budget 2019 proposals in regard to local manufacturers as 2 per cent interest subvention would enable the cash-starved MSMEs to ensure smooth credit line flow for their firms as they have been starving for credit line after the IL&FS crisis emergence.
Rajiv Talreja, Serial Entrepreneur and Business Coach told Zee Business online in a written statement, "I believe this is a good budget for the MSME. A 2 per cent interest subvention for loans up to Rs 1 crore, is certainly a step in the right direction. Most importantly, the Government has opened a new market for the homegrown entrepreneurs by allowing sourcing from MSMEs through Government up to 25 per cent, including 3 per cent from women-run organisations. Furthermore, Government e-Marketplace (GeM) has transformed procurement by making it transparent, thus giving MSMEs an opportunity to sell their products through GeM. Revisions in the GST slab rates, would be an added welcome development."
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Achal Bakeri, Founder, Chairman and Managing Director, Symphony Limited told, "The Government’s ten point vision is a positive move as it covers a wide focus area comprising building next-gen infrastructure, Digital India, boosting startups, clean and green India, bringing down imports, expanding rural industrialization among others." Bakeri went on to add that a special mention has been made to the MSMEs thereby providing stimuli to local manufacturers with incentives for them to grow and prosper. This is also an answer to the employability avenues.