New Delhi, July 5 (IANS) Union Finance Minister Nirmala Sitharaman in her
maiden Budget Speech on Friday announced sops for various sectors.
The key highlights are as follows:
Measures related to MSMEs:
- Pradhan Mantri Karam Yogi Maandhan Scheme
- Pension benefits to about three crore retail traders & small shopkeepers with annual turnover less than Rs. 1.5 crore.
- Enrolment to be kept simple, requiring only Aadhaar, bank account and a self declaration.
- Rs 350 crore allocated for FY 2019-20 for 2 per cent interest subvention (on fresh or incremental loans) to all GST-registered MSMEs, under the Interest Subvention Scheme for MSMEs.
- Payment platform for MSMEs to be created to enable filing of bills and payment thereof, to eliminate delays in government payments.