logo
close icon

Budget Reaction: MSME Sector

While welcoming the Union Budget 2022, Mr Dinesh Agarwal, Founder & CEO, IndiaMART InterMESH Limited stated, “With respect to the MSME sector, we congratulate the Union Budget 2022 for the vision. MSMEs will be supported through an extension of the Emergency Credit Line Guarantee Scheme (ECLGS) through March 2023, which will increase the guarantee cover by Rs 50,000 crore to Rs 5 lakh crore. The ‘Effective Capital Expenditure’ which is estimated at INR 10.68 lakh crore will be about 4.1 percent of GDP implies that Government is focused on strengthening domestic industry which will aid economic growth and job creation.

Dinesh Agarwal, IndiaMART InterMESH, Founder & MD

This year’s Budget also emphasized on the startup ecosystem. Furthermore, the focus on digitization will strengthen online marketplaces to reach a wider audience, thereby creating a path for strong growth. The tone of the Budget was clearly pointing toward the priority areas defined as engines of growth for becoming a 5 trillion economy. It was a genuine effort to meet the GDP target as envisaged in the Economic Survey; we wish to see the year as the ‘year of growth’.

IndiaInfoLine.com | SMEStreet.com

Latest Posts

IndiaMART InterMESH Limited closes the year with strong Q4FY25...

Posted on April 29, 2025

Increase in standalone revenue from operations at Rs. 336 Crore vs Rs. 299 Crore last year, driven by improvement in realization from paying suppliers The...

Read More

IndiaMART’s focus is to empower the small and medium...

Posted on April 29, 2025

  The B2B sector is expected to grow at 28% CAGR from 2021 to 2026, reaching $54 billion. This reflects the huge potential that still...

Read More

IndiaMART is supporting the growth of our business

Posted on April 29, 2025

Today, only 5% of MSMEs are fully digitized. With customers embracing technology in their daily lives, it has changed their buying habits and behavior. There...

Read More