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Gujarat Finance Minister Presented 2 Lakh Crore Budget

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Gujarat, which has always given focus to growth of industries in the budget, somehow struggled to impress the micro, small and medium enterprises (MSMEs) much in this year’s state budget presented. Gujarat Deputy Chief Minister Nitin Patel, who also holds the finance portfolio, presented the State’s Rs 2.05 lakh crore budget. This is the first time when the state’s budget has topped the figure of Rs 2 lakh crore.

Micro Small and Medium Enterprises (MSMEs) associations in the state, they gave mixed reactions on the budget. The secretary general of Federation of Small Scale Industries (FSSI) Jaideep Modi said, “Government is not taking major actions to boost MSMEs in the state. Industries here are facing lots and lots of problems.”

Disappointed with the state budget, he said, “Government is not giving boost to MSMEs and their growth is coming down day by day. Even qualified people are not getting jobs.”

Meanwhile, the Secretary General of Federation of Industries Gujarat Nitish Patil that amount allocated for the MSMEs and startups in this budget is good and will help in growth and development of MSMEs in the state.

On the job front, Patel said the government would employ around 60,000 people during the next three years. A “minimum 50 lakh beneficiaries” will be given loans under the Mudra Yojna for self-employment, he said.

He asserted that opportunities of self-employment will be created for 25 lakh women “by making available loan of Rs 700 crore” this year.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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