New Delhi (India), August 8: This interim budget will be a milestone for the startup and innovation ecosystem. Finance Minister Nirmala Sitharaman presented the interim budget of the new government N.D.A 3.0 today. This budget has brought many opportunities for the country’s startups and innovation ecosystem.
Steps have been taken to boost the space economy, including a fund of 1000 crore rupees, which is commendable. The budget includes provisions for skill development and higher education for youth, internship programs for one crore schemes, which will enable sons and daughters of villages to work in the top companies of the country. Efforts are being made to open new doors of possibilities for them, encouraging entrepreneurship at every city, village, and household. Such initiatives are welcome for real self-reliance.
Under the Mudra loan scheme, loans without guarantee have been increased from 10 to 20 lakhs, which will promote entrepreneurship in the country. Tax exemptions for startup companies will definitely contribute to achieving the goal of a developed India. This budget focuses on quality development and global competition in the MSME sector and manufacturing sector, which will be exemplary for the development of the MSME sector. Along with this, a credit guarantee scheme in the manufacturing sector of the MSME sector, an internally-funded guarantee fund, will provide up to 100 crore rupees for each applicant if the loan amount is higher. The borrower will have to provide an initial guarantee fee and an annual guarantee fee on the remaining loan amount. The government is appearing resolute in strengthening micro, small, and medium enterprises through the budget.
The current government believes that the people have given the government a unique opportunity to steer the country towards strong development and organized prosperity. Therefore, in the interim budget, efforts have been focused on a comprehensive roadmap for the Atma Nirbhar Bharat (self-reliant India), which is commendable. The government has mentioned its permanent efforts on its 9 priorities, including productivity and self-reliance in agriculture, employment and skills, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, basic infrastructure, innovation, research and development and improvement for the next generation.
Inclusive agriculture productivity through innovation is the goal of the budget.
The government pays special attention to employment and skill development to make appropriate use of youth energy for the country’s progress and the goal of a developed India.M With improvement in basic infrastructure and research and development, the government’s commitment to providing a strong ecosystem for the next generation is highlighted.
