It is a fabulous budget with the focus on meeting the aspirations of the booming middle class. The Manufacturing Mission that the Hon’ble minister has set up will further the cause of Make in India and boost domestic manufacturing.
Extending the Credit Guarantee Scheme for facilitating term loans for purchase of machinery and equipment without collateral or third party guarantee, to the MSMEs for up to Rs 1 billion, is a welcome step and will ease the credit requirements of the sector. Structural reforms that focus on ease of doing business, especially with regards to time limit for Provisional assessments and TCS/TDS compliances are also a welcome step.
The opinion is presented by Mihir V Shah, Executive Director, Vipul Organics