Union Finance Minister Nirmala Sitharaman’s 2023-24 Budget has provided much-needed oxygen to the MSME sector that was badly affected by the Covid-induced crisis, said industrialists and various chambers of commerce. They expressed the hope that the announcements by the FM will give leverage to the sector

Ahmedabad, Feb 1,2023:Union Finance Minister Nirmala Sitharaman’s 2023-24 Budget has provided much-needed oxygen to the MSME sector that was badly affected by the Covid-induced crisis, said industrialists and various chambers of commerce. They expressed the hope that the announcements by the FM will give leverage to the sector.

Vadodara Chambers of Commerce and Industries president Himanshu Patel, welcoming the Budget, said: “The much needed booster dose has been given by the Finance Minister for the MSME, the tax slab will definitely keep the sector floating. It suffered a major setback in 2020.”

CII’s regional vice president Darshan Shah said: “In the budget many schemes, fund allocations and various schemes have been announced for the MSME sector. It will help the sector to bounce back, which will play a major role in generating employment. There is mild dissatisfaction too, MSME’s different industries were expecting reduction in GST tariffs, but it remains untouched.”

Southern Gujarat Chamber of Commerce and Industries former president Ashish Gujarati feels that this budget is going to boost domestic industry because the government plans to invest Rs 10 lakh crore in capital projects.

There is a special focus on green energy which will reduce carbon footprint and pollution.

The ‘Pradhan Mantri Awas Yojana’ will provide shelter to migrant workers in industrialised cities. The relaxation in Income Tax, will put more money in the hands of people, which will increase purchasing power as well as retail investments.