Key highlights of the Budget 2020 for MSMEs

  • Uplift the manufacturing sector
  • National logistics policy to be released
  • Scheme to provide higher insurance cover for exports
  • Nirvik scheme for export tax disbursement
  • Scheme to provide subordinate debt to MSME entrepreneurs
  • App-based invoice financing loans product to be launched
  • Rs 2.83 lakh crores allocated for agro and allied sectors
  • Budget 2020 proposes to boost the manufacturing of mobile phones, electronic equipment, and semiconductor packaging..
  • The finance minister then stressed on the aspiration to make every district an export hub.
  • In the Budget 2020, FM Mrs Sitharaman said a digital platform will be set up for seamless application and capture of Intellectual Property Rights (IPR).
  • The budget also proposed comprehensive measures for water-stressed districts. Around 35 lakh farmers will be helped for setting up stand-alone solar pumps to make a living even out of barren lands. The budget also focused on providing 152 million metric tonnes of warehousing facilities.