Patna, Feb 1 (IANS) Union MSME Minister Jitan Ram Manjhi on Sunday described the Union Budget as development-oriented and fully aligned with the vision of Viksit Bharat by 2047.
Congratulating Union Finance Minister Sirmala Sitharaman, Manjhi thanked her for presenting a budget that prioritises growth, employment, and entrepreneurship.
He also expressed gratitude to Prime Minister Narendra Modi, stating that the budget reflects the Prime Minister’s visionary leadership towards building a developed India.
Highlighting increased financial support for the MSME sector, Manjhi said the budgetary allocation has risen from Rs 23,168 crore in FY 2025–26 to Rs 24,566 crore in FY 2026–27.
“Under the visionary leadership of the Prime Minister, the MSME sector will once again emerge as a champion of economic growth,” he said.
The Union Minister emphasised that the budget places special focus on MSMEs.
Among the five major decisions announced to facilitate MSME growth, he described the Rs 10,000 crore equity support through the establishment of a Growth Fund as the most significant step for strengthening small and medium enterprises.
Manjhi also welcomed the Rs 2,000 crore top-up to the existing Self-Reliant India (SRI) Fund, aimed at scaling up micro-enterprises.
He said this reflects the strong performance of the scheme and the government’s continued commitment to MSME expansion.
Referring to reforms in payment mechanisms, the Minister said the decision to make Trade Receivables Discounting System (TREDS) mandatory for all procurements by Central Public Sector Enterprises (CPSEs) will ensure greater transparency.
He added that introducing credit guarantees for TREDS transactions through CGTMSE will enable faster payments to MSMEs.
He further noted that integrating GeM (Government e-Marketplace) with TREDS will significantly reduce delays in public procurement payments and improve working capital availability for MSMEs.
“These reforms will help resolve the long-standing issue of delayed payments and strengthen the financial health of MSMEs,” Manjhi said.
The Union Minister also highlighted support for professional institutions such as ICAI and ICMAI, which will be encouraged to develop modular courses to create corporate partners who can assist MSMEs in meeting procedural and compliance requirements.
Welcoming sector-specific announcements, Manjhi praised the decision to include Khadi under the Mahatma Gandhi Gram Swaraj Mission, along with provisions for technical assistance, skill development, and integration into global value chains.
He said these steps would significantly boost the Khadi sector.
He also welcomed the budget’s announcements for the textile sector, noting that textiles form the largest segment within MSMEs and would directly benefit from the new provisions.
–IANS
ajk/dan