Bengaluru, Feb 1 (PTI) The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) president Dr I S Prasad on Tuesday welcomed the Union Budget presented by Finance Minister Nirmala Sitharaman saying that the measures taken by the Central government will make MSMEs become more resilient and competitive.
He also noted that this is an all-inclusive growth oriented budget.
“The budget lays emphasis on industrial, educational and health sectors. We welcome the announcement by the Finance Minister for the measures taken by government to make MSMEs become more resilient and competitive,” Prasad said in a statement.
While the budget shied away from giving any specific sop to the common man, however, it has a lot of positive features for many sectors of the economy including start-ups and MSMEs for greater job opportunities, he pointed out.
The FKCCI president said the budget provides an impetus for growth which is guided by PM Gati Shakti, which is a transformative approach for economic growth and sustainable development.
“The approach is driven by seven engines namely roads, railways, airports, ports, mass transports, waterways and logistic infrastructure, which is expected to pull forward the economy. These measures are expected to lead for huge job and entrepreneurial opportunities, especially for the youth,” Prasad said.
He also welcomed the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme which is being revamped with required infusion of funds. This will facilitate additional credit of Rs 2 lakh crore for Micro and Small Enterprises and expand employment opportunities.
Prasad hailed the emphasis on agriculture, river linking projects, providing a comprehensive package for food processing with participation of state governments and helping the MSME sector to become more resilient, competitive and efficient with Emergency Credit Line Guarantee Scheme. PTI GMS GMS HDA HDA
