Interim budget evokes mixed response: MSME sector disappointed, farmers say it lacks vision

Gurmeet Singh Kular, president of Federation of Industrial and Commercial Organisation (FICO)

There is nothing for the MSME sector in this budget. “There is no technology upgradation scheme, no incentives, no new scheme. Not even the income tax regime has been changed. He said that the International Cooperation Scheme should have been introduced to enable the MSMEs to visit in the International Exhibitions and see the Global Manufacturing Excellence so that they can improve thier own productivity. Credit Link Capital Subsidy Scheme has not been reintroduced, forget increasing its limit,” he said, adding that GST on steel should have been rationalised and reduced to 12 %.

Pankaj Sharma, president of Association of Trade and Industrial Undertakings (ATIU)

Industry had lots of hope from the interim budget as this was the last budget before the elections. “But the budget lacks vision and long term planning especially for MSMEs which is a backbone of every economy. FM has provided outlay for Defence, Railways, Road Transport, Highways, Solar Power, Green Hydrogen etc which is a very welcome step. MSMEs which are directly or indirectly linked with sectors such as highways, railways, defence, roads etc will get some help otherwise the budget has

Vipin Suree, founder and MD of Space Creattors Heights.

I laud the budget for emphasising on stability and staying committed to its current course without unnecessary modifications. “The promise to continue India’s growth journey through sustained infrastructure investment, despite the interim nature of the budget, is a reassuring signal. The effort to cap the fiscal deficit at 5.1% demonstrates fiscal responsibility. Including women and the marginalised is a key theme and this will help in economic progress of all sections of the society,” he said, adding that the budget upholds the positive trajectory despite external pressures and uncertainties. for this sector,” he said.

Gurpreet Singh, block president of BKU Rajewal in Abohar

I live in Patti Sadik village of Abohar. Though farmer has been mentioned repeatedly in the speech but nothing significant was announced for the farmers. “There is no planning towards loan waiver of farmer while slab of corporate tax was reduced from 25% to 22%. Thus further shows that the government is pro-corporate,” he said, adding that the only good thing is the announcement of 300 units free power for rooftop solar power generation.

MK Gupta, Chartered Accountant

Budget has a long-term vision and concrete blue print. “From the perspective of the common man and the industry, everything will remain the same,” he said

Rajnish Ahuja, president of Apex Chamber of Commerce and Industry

As it was an interim budget, it was a no-pain, no-gain announcement. “However the past performance by the finance minister seems to be convincing,” he said.