Union Budget, a boost to MSME sector says Bayana Venkata Rao

Highlights

The Union budget brought great relief to MSME sector, observed AP MSME Industries Association honorary president Bayana Venkata Rao.

Vijayawada : The Union budget brought great relief to MSME sector, observed AP MSME Industries Association honorary president Bayana Venkata Rao.

Speaking to The Hans India, Venkata Rao welcomed the budget proposals to encourage MSME sector by increasing the credit guarantee scheme for MSMEs from Rs 5 crore to Rs 10 crore and for start-ups from Rs 10 crore to Rs 20 crore.

He said the budget proposed 10 lakh credit cards to MSMEs with Rs 5 lakh limit. Besides new scheme was launched to provide Rs 2 crore term loan.

He said the budget aimed to promote made in India brand by exporting the native toys by improving skills. He said allocation of Rs 10,000 crore for MSME sector will help in sustainability of MSME sector and to improve employment opportunities.