Union Budget 2021: MSME Gets A Rs 15,700 Crores Boost

Finance Minister Nirmala Sitharaman has made a provision of Rs 15,700 crore for the Ministry of Micro, Small and Medium Enterprises (MSME) sector in the Union Budget 2021-22.

"We have taken a number of steps to support the MSME sector in this budget. I have provided Rs 15,700 crore more than double the previous year," said the Finance Minister said while presenting the Union Budget in the Parliament.

The investment in MSMEs and the moratorium on loans of up to 2 crores will also play a crucial role in for the Indian corporates. Privatization of several government-related sectors such as ports will also add to the economic growth and employment generation," Lokendra Ranawat, Founder & CEO, WoodenStreet.