Union Finance Minster presented Interim Union Budget 2014-15 in the Parliament on 17.2.2014.

In his budget speech, while mentioning about state of the economy, the Finance Minister mentioned, inter-alia, that several measures have been taken to promote micro, small and medium enterprises including notifying a public procurement policy, establishing technology centres and common facility centres, and launching the Khadi mark.

The Finance Minister also mentioned about the major achievements of the Government in the current financial year, while discussing Report Card of 2013-14. The Finance Minister stated that Ministry of MSME will create the ‘India Inclusive Innovation Fund’ to promote grassroot innovations with social returns to support enterprises in the MSME sector. The Finance Minister proposed to make an initial contribution of Rs. 100 crore to the corpus of the Fund.

Promotion of MSME: India Inclusive Innovation Fund to support grassroots innovation and strengthen enterprise development. The Interim Union Budget reiterates MSME promotion through a public procurement policy, technology centres, common facility centres and the Khadi mark, and proposes creation of the India Inclusive Innovation Fund under the Ministry of MSME with an initial government contribution to support grassroots innovations and enterprise scaling.