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Finance Minister Nirmala Sitharaman presents the country’s general budget. In the paperless general budget that is presented for the second time in a row, many important announcements have been made for micro, small and medium-sized companies, that is, MSMEs. Loans have been provided to over 130 lakh MSMEs under the Emergency Credit Line Guarantee Scheme. The scope of ECLGS has been increased from Rs 50 thousand crore to Rs 5 lakh crore. With this, an additional loan of Rs 2 lakh crore will be available. Finance Minister Nirmala Sitharaman reported that the Udyam, e-Shram, NCS and Aseem portals will be linked. This will increase the reach of MSMEs.
The Emergency Credit Line Guarantee, which provided additional credit to MSMEs, was extended until March 2023. At the same time, an additional loan will be provided especially to the hospitality sector.
Finance Minister Nirmala Sitharaman reported that a Rs 6,000 crore program will be implemented to qualify Micro, Small and Medium Enterprises (MSMEs) over the next five years. Introducing the General Budget 2022-23, the Finance Minister said that the ‘Desh Stack e-Portal’ will be launched as part of the initiative to boost digital infrastructure. She said startups for the power of drones will be promoted.
How to see the budget: If you want to see the budget, you can see it in the ‘Union Budget Mobile App’. Like last year, this time also the budget documents will be available in the app. The mobile app is bilingual (English and Hindi) and is available on Android and iOS platforms. The application can also be downloaded from the Union Budget web portal (www.indiabudget.gov.in). The budget documents are also available for download on the Central Budget web portal (www.indiabudget.gov.in) for the general public. For detailed information on the overall budget, you need to visit the Hindustan website. We tell you about the budget and its impact.