The annual budget gives a road map of India’s transforming economy and government’s intent to evolve an ecosystem for MSMEs, which is definitely going to scale-up production, build-up infrastructure and help in ease of doing business across the country. Investment in MSMEs will receive a big boost through the proposed Government portal. This should eliminate the delays in payments to small enterprises.
By making PAN and Aadhar card interchangeable the government has further offered more transparency and scalability for businesses. In addition, the FM has struck the right cord with MSMEs operating in India by proposing 25% corporate tax on companies up to Rs 400 crore turnovers. This will create an ecosystem for change and give the required impetus for growth and add more job opportunities.