Finance Minister launches Mutual Credit Guarantee Scheme for MSMEs

18 Feb 2025 CW Team

In her keynote address, Sitharaman stated that Government continues its post-COVID capital and asset-building strategy, with increased allocations for capital expenditure to drive infrastructure development. The Finance Minister outlined the major takeaways from the Budget 2025-26, emphasising economic growth, responsible fiscal management, and key structural reforms aimed at realising the vision of Viksit Bharat. Government’s emphasis post Covid for public expenditure in asset building continues and hence, capex is 10.2 percent more in Budget 2025-26 than last budget (Vote-on-account 2024-25). The capex budget has been significantly increased and stands at around Rs. 16 trillion , stated the Finance Minister. Highlighting the importance of research and development, the Finance Minister noted that significant steps have been taken to support R&D, especially in STEM fields, with private sector participation being encouraged. She also reaffirmed the Government’s commitment to ongoing reforms in manufacturing, Ease of Doing Business (EODB), and social infrastructure to strengthen economic foundations. The Government remains steadfast in its commitment to fiscal consolidation, with a clear roadmap to bring the fiscal deficit below 4.5%. Borrowings are focused on capital asset creation, ensuring sustainable economic growth. She assured, "We are on track to bring the Debt-to-GDP ratio down to 50% by FY 2030-31. This reflects our disciplined approach towards financial stability without compromising on education, healthcare, or infrastructure investments." The Income Tax Act, 1961, is set to be replaced by the new law which is currently under review by the Select Committee. With 60,000 inputs received, it is one of the most comprehensive tax reform exercises undertaken and reflects the spirit of Jan-bhagidaari. The new law will reduce complexity by consolidating provisions, reducing the number of sections from 800 to 500, and simplifying language for better interpretation. “FAQs The Finance Minister praised the CBDT for completing this monumental task within six months, stating, "This is a landmark effort towards simplification and transparency in taxation. Our aim is to make compliance easier and more efficient for every taxpayer." Education and health remain key priorities, with more universities being considered for student loan support to enhance accessibility to higher education. The insurance sector has been opened up with necessary safeguards, ensuring broader participation while maintaining financial security. Union Budget 2025 increased the sectoral cap of insurance sector to 100% from 74%.

In her keynote address, Sitharaman stated that Government continues its post-COVID capital and asset-building strategy, with increased allocations for capital expenditure to drive infrastructure development. The Finance Minister outlined the major takeaways from the Budget 2025-26, emphasising economic growth, responsible fiscal management, and key structural reforms aimed at realising the vision of Viksit Bharat. Government’s emphasis post Covid for public expenditure in asset building continues and hence, capex is 10.2 percent more in Budget 2025-26 than last budget (Vote-on-account 2024-25). The capex budget has been significantly increased and stands at around Rs. 16 trillion , stated the Finance Minister. Highlighting the importance of research and development, the Finance Minister noted that significant steps have been taken to support R&D, especially in STEM fields, with private sector participation being encouraged. She also reaffirmed the Government’s commitment to ongoing reforms in manufacturing, Ease of Doing Business (EODB), and social infrastructure to strengthen economic foundations. The Government remains steadfast in its commitment to fiscal consolidation, with a clear roadmap to bring the fiscal deficit below 4.5%. Borrowings are focused on capital asset creation, ensuring sustainable economic growth. She assured, We are on track to bring the Debt-to-GDP ratio down to 50% by FY 2030-31. This reflects our disciplined approach towards financial stability without compromising on education, healthcare, or infrastructure investments. The Income Tax Act, 1961, is set to be replaced by the new law which is currently under review by the Select Committee. With 60,000 inputs received, it is one of the most comprehensive tax reform exercises undertaken and reflects the spirit of Jan-bhagidaari. The new law will reduce complexity by consolidating provisions, reducing the number of sections from 800 to 500, and simplifying language for better interpretation. “FAQs The Finance Minister praised the CBDT for completing this monumental task within six months, stating, This is a landmark effort towards simplification and transparency in taxation. Our aim is to make compliance easier and more efficient for every taxpayer. Education and health remain key priorities, with more universities being considered for student loan support to enhance accessibility to higher education. The insurance sector has been opened up with necessary safeguards, ensuring broader participation while maintaining financial security. Union Budget 2025 increased the sectoral cap of insurance sector to 100% from 74%.

Resources

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