TIMELY AND ADEQUATE FINANCES, RELEVANT TECHNOLOGIES & APPROPRIATE TRAINING FOR MSMEs- A POLICY PRIORITY FOR GOVERNMENT

IN LINE WITH ‘PANCHAMRIT’ GOALS, GOVERNMENT TO FACILITATE HIGH AND MORE RESOURCE-EFFICIENT ECONOMIC GROWTH; ALSO WORK TOWARDS ENERGY SECURITY

GOVERNMENT TO TAKE UP NEXT GENERATION REFORMS AND BUILD CONSENSUS WITH STATES AND STAKEHOLDERS GUIDED BY ‘REFORM, PERFORM, AND TRANSFORM’

Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman laid down the strategy for ‘Amrit Kaal’. While presenting the Interim Budget 2024-25 in Parliament today, the Minister said, “It is an important policy priority for our Government to ensure timely and adequate finances, relevant technologies and appropriate training for the Micro, Small and Medium Enterprises (MSME) to grow and also compete globally. Orienting the regulatory environment to facilitate their growth will be an important element of this policy mix.”

The Minister said, “Aligning with the ‘Panchamrit’ goals, our Government will facilitate sustaining high and more resource-efficient economic growth.” She highlighted that this will work towards energy security in terms of availability, accessibility and affordability.

Smt. Sitharaman noted that guided by the principle ‘Reform, Perform, and Transform’, the Government will take up next generation reforms, and build consensus with the states and stakeholders for effective implementation.

She said, “Our Government will adopt economic policies that foster and sustain growth, facilitate inclusive and sustainable development, improve productivity, create opportunities for all, help them enhance their capabilities, and contribute to generation of resources to power investments and fulfil aspirations.”

The Minister further stated that for meeting the investment needs, the Government will prepare the financial sector in terms of size, capacity, skills and regulatory framework.

MSME finance and capacity building prioritized to enable resource-efficient growth and strengthen financial sector readiness. Policy emphasises targeted MSME support through timely and adequate finance, technology facilitation, training and regulatory orientation to enhance growth and global competitiveness. Concurrently, the Government pursues resource-efficient economic growth and energy security, guided by the principle Reform, Perform, and Transform, and will advance next-generation reforms while preparing the financial sector's size, capacity, skills and regulatory framework to meet investment needs.