Budget to push growth in manufacturing sector, MSMEs and exports, says CII Puducherry chapter

The Puducherry chapter of Confederation of Indian Industry has opined that measures initiated in the Union Budget will give a strong push to the manufacturing sector, MSME growth and exports.

Chairman of CII Puducherry State Council V. Shanmuganandam said the Union Budget has its focus on strengthening domestic manufacturing and global competitiveness with targeted reforms across taxation, power, urban development, mining, financial sector and regulatory frameworks. The National Manufacturing Mission will be an added impetus to the Make in India initiative of the government, he said.

The Budget has several pro-business initiatives. The Budget has doubled credit limit for micro and small enterprises from ₹5 crore to ₹10 crore, unlocking ₹1. 5-crore lakh crore in additional credit over five years. The decision to develop 50 top tourism destinations through State partnership will create more jobs and boost the sectors contributing to the GDP, he said.

Published - February 01, 2025 09:03 pm IST