If you are busy whole day and dint had time to understand the Indian Budget you can read it below in shorts
Big Announcements in Short
#Manufacturing and #Services
•Will make MSME to compete globally
•Credit Guarantee for MSME.
•Build In House capability for MSMEs.
•Paradigm change in New Credit assessment model for MSME for credit eligibility.
•SMA Accounts for MSME in Stress.
•MUDRA Loans: limit enhanced to 20 lakhs from 10 lakhs in Tarun category.
•Converting trade receivables to cash: turnover brought down from Rs.500 to Rs.250 crore
•SIDBI branches in MSME Cluster: new branches to be opened in 3 years in MSME clusters over 3 years
• E-commerce export hubs: to enable traditional artisans and MSME to launch their product in international markets
•*A scheme to provide internship in top 500 companies to 1 crore youth in 5 years*. They will gain exposure to real life business. Interns will be given Rs.5,000 per month along with one time assistance of Rs.6,000.
•12 industrial parks under National Industrial Corridor Program will be Sanctioned.
•Rental housing for industrial workers will be facilitated in PPP Mode.
•Shipping: Ownership leasing and flagging reforms will be initiated.
•Critical Minerals Mission: mandate will include tech development, skilled workforce and suitable financing mechanism.
•DPI Applications: Development of DPI applications.
•Integrated tech platform for IBC services: consistency, transparency and better oversight.
•Voluntary closure for LLPS.
•*IBC has resolved more than 1, 000 companies- giving Rs.3.3 lakh crore to creditors*
•Debt Recovery: Additional tribunals to be established
#Agricultural
•Raising Productivity and Climate Resilient Varieties
•Thrust on Natural Farming: 2 crore farmers to be supported in next 2 years(certificates)
•Atma Nirbharta in Oil Seeds
•Vegetable Production: Large Scale Clusters
•DPI in Agri Infrastructure: Coverage of Farmers and their Land in three years. Digital Crop Survey in 400 districts this year only. Issuance of Jan Samarth based certificates.
•Shrimp Brood Stocks. Shrimp Farming.
•National Co-operation Policy for Co-operative Sector.
FM proposes central assistance of Rs 2.2 lakh crore for urban housing over next five years.
Finance Minister said that in the next two years, one crore farmers across the country will be initiated into natural farming supported by certification and branding. Implementation will be through scientific institutions and willing Gram Panchayats. 10,000 need-based bio input resource centres will be established
Rs. 10 lakh crore to be allocated towards PMAY – Urban to address 1cr homes over next five years, Provision of interest rate subsidy is proposed +ve for Cement, Building materials
Gov will establish a Critical Mineral Mission to promote domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. Positive for companies like Gravita India.
Govt to launch auction of first offshore mining blocks: FM announces in Budget.
FM proposes integrated technology platform for improving outcomes under Insolvency and Bankruptcy Code.
“Scheme C – Support to Employers – this employer-focussed scheme will cover additional employment is all sectors. All additional employment within a salary of Rs 1 lakh per month will be counted. The government will reimburse to employers up to Rs 3000 per month for two years towards the EPFO contribution for each additional employee. The scheme is expected to incentivise additional employment of 50 lakh persons.
Govt allocates over Rs 3 lakh crore for schemes benefiting women, girls.
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