<h1>Government Boosts MSMEs and Textiles with Rs. 10,942 Crore, Cuts Tax for Small Companies, Supports Job Growth.</h1> The government allocated Rs. 3794 crore in the 2018-19 budget to support MSMEs through credit, capital, and innovation initiatives, aiming to boost employment. Additionally, Rs. 7148 crore was designated for the textile sector. An independent study showed the creation of 70 lakh formal jobs this year. The government will contribute 12% to new employees' EPF wages for three years and extend fixed-term employment across sectors. Tax rates were reduced to 25% for companies with turnover up to Rs. 250 crore. Measures to support women in the workforce and initiatives for skill development and fintech growth were also announced.