Pune MSMEs say Budget 2024 a letdown, western Maharashtra neglected in infrastructure investment

Pune MSME forums said most of the allocations for infrastructure in Budget 2024 presented by Union Finance Minister Nirmala Sitharaman were for Bihar and Telangana.

Prashant Girbane, managing director of the Mahratta Chamber of Commerce Industries and Agriculture (MCCIA), welcomed the fiscal discipline envisioned in the budget. (PTI)

Pune’s micro, small, and medium sector enterprises (MSME) said the first budget of Narendra Modi’s third term as Prime Minister had not met their expectations. Many say the lack of allocation for infrastructure development in western Maharashtra was a letdown as they had expected some specific announcement for the region.

Abhay Bhor, president of the Forum of Small Scale Industries Association, said Budget 2024, presented by Union Finance Minister Nirmala Sitharaman, failed to address the needs of Industries 4.0. “Most of the allocations for infrastructure in terms of roads, etc, were for Bihar and Telangana. Our region requires urgent investment in terms of infrastructure, but the budget is silent about it,” he said.

Sandeep Belsare, president of the Pimpri-Chinchwad Small and Medium Scale Industries Association, said the budget hits some sweet points but fell short in some areas. “The government’s decision to increase the limit of Mudra loan from Rs 10 lakh to Rs 20 lakh is welcome, but banks are found wanting in disbursement,” he said.

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Belsare also pointed out that most of the schemes announced failed to reach the ground as the disbursal agencies have put artificial barriers in the way. Belsare said the Prime Minister’s credit guarantee scheme was another welcome move but should be implemented in letter and spirit. “However, the budget did not include anything in terms of infrastructure investment for the Pune region,” he said.

A similar opinion was expressed by Dilip Batwal, secretary of the Federation of Chakan Industries. “However, there are concerns about the lack of allocation for infrastructure development in western Maharashtra, especially Pune and Mumbai, which generate substantial revenue,” he said.

Prashant Girbane, managing director of the Mahratta Chamber of Commerce Industries and Agriculture (MCCIA), welcomed the fiscal discipline envisioned in the budget. “The allocations for the MSME sector are indeed good news and will help the sector grow,” he said.

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