Press Release by COSIA on Union Budget 2014-15

Budget Promotional for MSMEs

10th July 2014

Dr. M.R. Khambete

President

In spite of the major constrains like serious fiscal deficit, limit on tax rates and low business activity, the Finance Minister Shri. Arun Jaitley deserves complements and congratulations for presenting a Budget which is promotional for MSMEs, the sector which contributes 8% to GDP and provides maximum employment. To create a conducive eco system for the venture capital in MSME Sector, a fund of Rs. 10,000 crore will certainly boost the growth of this sector. A fund of Rs. 200 crore for promotion of innovation and agro industry, change in MSME definition, incubation program are other supporting schemes. COSIA welcomes the budget.