Page 20 - NIS English February 16-28

Budget 2 21
Union

G g oo t to

MSME Sector

I o e to e e t e e o o ,
R 1 ,700 C o e B get a o at o to

MSME e to o e t a e o
ea ’ B get a o at o
0 C o e e o to

e eate

7 e te t e ega a R 1 97 La C o e
to e o t te to e t ea o PLI
strengthen the textile schemes in 13 Sectors
industry

I ea e e e FDI
74% t I a e Se to

SME sector, considered to be the analytics, Artificial Intelligence, Machine
backbone of the economy, has Learning driven MCA21 Version 3.0 in
Mbeen the worst affected in the 2021-22. This will have additional modules
Corona period. This is probably the reason for e-Scrutiny, e-Adjudication, e-Consultation
that this time round Finance Minister and Compliance Management. The Centre
Nirmala Sitharaman has
³ izkS|ksfxdh mUUk;u rFkk aims to increase MSME’s
given maximum relief to
contribution to economic growth
this sector in the Budget. Exemption on import of from 30 per cent to 40 per cent.
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The Government has t ee te at o a e Target is to increase MSME’s
once again revised the to incentivise export of share in exports from 48 per cent
definition of MSMEs ga e t , eat e a to 60 per cent. There is also a plan
based on investment limit to bring an Investor Charter for
and turnover size. This handicraft items the first time to protect investors.
definition was once revised Eligibility for tax holiday claim for
earlier in June 2020 as well. Startups extended by one more
As per the current definition, the capital year. Customs duty reduced on iron and raw
base for small companies is increased material related to it. Capital infusion of Rs
from Rs 50 Lakh to Rs 2 Crore. This will 1,000 Crore to Solar Energy Corporation of
benefit more than 2 Lakh companies. India and Rs 1,500 Crore to Indian Renewable
The Government will be launching data Energy Development Agency.

18 New India Samachar