+
Finance Minister Launches MSME Credit Scheme, Highlights Budget Priorities
ECONOMY & POLICY

Finance Minister Launches MSME Credit Scheme, Highlights Budget Priorities

Union Finance and Corporate Affairs Minister Nirmala Sitharaman launched the Mutual Credit Guarantee Scheme (MCGS) for MSMEs, enabling loans up to Rs. 100 crore for purchasing machinery or equipment without collateral. This initiative, announced in Budget 2024-25, aims to enhance financial access for MSMEs.

At the event, the Finance Minister also virtually inaugurated the first 'Sachal Aaykar Seva Kendra' in Mumbai, operational from 18-19 February in Navy Nagar, Colaba. The centre will provide digital services, tax assistance, and grievance redressal.

Key Budget Highlights:
  • Increased Capital Expenditure: Capex allocation is 10.2 percent higher than the previous budget, reaching Rs. 16 lakh crore.
  • Fiscal Deficit Reduction: The government aims to bring the fiscal deficit below 4.5 percent and reduce the Debt-to-GDP ratio to 50 percent by FY 2030-31.
  • Boost to Consumption & Investment: Tax concessions will encourage spending, saving, and investments.
  • New Income Tax Act: A revised tax law will replace the 1961 Act, simplifying compliance.
  • Sectoral Growth: Space, nuclear energy, and critical minerals are now open for investments, with customs duty exemptions on 25 critical minerals.
  • Agriculture Focus: PM Dhan Dhaanya Krishi Yojana will improve productivity in 100 low-yield districts, benefiting 1.7 crore farmers.

The minister reaffirmed the government’s commitment to economic growth, financial stability, and social development.

Union Finance and Corporate Affairs Minister Nirmala Sitharaman launched the Mutual Credit Guarantee Scheme (MCGS) for MSMEs, enabling loans up to Rs. 100 crore for purchasing machinery or equipment without collateral. This initiative, announced in Budget 2024-25, aims to enhance financial access for MSMEs.At the event, the Finance Minister also virtually inaugurated the first 'Sachal Aaykar Seva Kendra' in Mumbai, operational from 18-19 February in Navy Nagar, Colaba. The centre will provide digital services, tax assistance, and grievance redressal.Key Budget Highlights:Increased Capital Expenditure: Capex allocation is 10.2 percent higher than the previous budget, reaching Rs. 16 lakh crore.Fiscal Deficit Reduction: The government aims to bring the fiscal deficit below 4.5 percent and reduce the Debt-to-GDP ratio to 50 percent by FY 2030-31.Boost to Consumption & Investment: Tax concessions will encourage spending, saving, and investments.New Income Tax Act: A revised tax law will replace the 1961 Act, simplifying compliance.Sectoral Growth: Space, nuclear energy, and critical minerals are now open for investments, with customs duty exemptions on 25 critical minerals.Agriculture Focus: PM Dhan Dhaanya Krishi Yojana will improve productivity in 100 low-yield districts, benefiting 1.7 crore farmers.The minister reaffirmed the government’s commitment to economic growth, financial stability, and social development.

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?