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Budget 2022 Expectations: Expectations of MSMEs, start-ups from the Modi government in this year’s budget
MSMEs and the start-ups are looking forward to some provisions in the Union Budget 2022 so that they can run their businesses smoothly.
Union Budget 2022: Union Finance Minister Nirmala Sitharaman will present the Union Budget 2022 on February 1 this year. In the previous budget, the main focus of the government was on health and rural infrastructure development. All the sectors are eagerly waiting for the budget with certain expectations for their sectors.
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MSMEs and the start-ups are looking forward to some provisions in the Union Budget 2022 so that they can run their businesses smoothly. In the midst of this, the Omicron variant of COVID-19 has raised concerns amid the economic recovery in the economy.
In this context, Ratish Pandey, Business & Executive Coach, Ethique Advisory for the MSME and Startup sector said, "Had I been commenting about 20 days back, probably my comments would be more towards how the Federal Government should rebuilding and also focus on reducing the budget deficits. However in the 20 days gone by, we know exactly how uncertain things are with the new wave hitting India like a tsunami."
Pandey feels that the Modi government will be able to make adjustment to their planning. He has also highlighted the areas for the focus of the government. They are as follows:
1) The government schemes to support infra and job creations should continue
2) The schemes led by lending banks for MSMEs / SMEs should be extended at least the end of calendar year 2022
3) Continued support to the lower strata of the earning populace to ensure their well being is expected
4) It has been a phenomenal year for the start-ups. The credit goes to the brilliant ideas those because of which India saw a huge spurt in number of unicorns. The support under the start-up India initiatives should continue and be extended by another year.
5) For the manufacturing / industrial sector specific PLI schemes has been successful. In this regard, new sectors should be added.
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