Budget 2014: 10 Reasons For MSMEs & SMEs To Smile | SupportBiz

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Budget 2014: 10 Reasons For MSMEs & SMEs To Smile

Finance Minister Arun Jaitley presented his maiden budget for the year 2014-2015.
1. Manufacturers would be allowed to sell their products on ecommerce sites without any additional approval.
2.There is a need to boost manufactuing sector for job creation.
3. Skill India: The inititative would help youth about entrepreneurship skills.
4. Credit availability  of 200 cr for SC/ST start ups acrooss the country.
5. Govt appoints a comiteee in association with RBI, MSME Ministry to submit a report on why financing a critical issue for SMEs
6. Govt proposes a fund of Rs 10000 cr for softloans and equity based loans for start up and SMEs.
7. The MSME defination would soon be revived accordingly.
8. Govt Proposes to set up nationwide incubation program for entrepenrurs and start-ups for improvement of business ideas.
9. Govt proposes to set up a trade fecilation centre of 50 cr for handloon products of Varanasi to scale up their business.
10. Govt Proposes 6 more textile clusters across the country