Focus on MSME Sector Inputs
Finance Minister Nirmala Sitharaman chaired a pre-Budget consultation with representatives from Micro, Small, and Medium Enterprises (MSMEs) to gather suggestions for the 2025-26 Budget. This meeting marks her third consultation in the pre-Budget series, following discussions with economists and agricultural stakeholders. The Budget is expected to be presented on February 1, 2025.
Participants and Representation
The meeting witnessed participation from key industry associations and government officials. Among the attendees were Union Minister of State for Finance Pankaj Chaudhary, Finance Secretary, Chief Economic Adviser, and secretaries from the Department of Economic Affairs and DIPAM.
Notable MSME representatives included:
The pre-Budget consultation with MSME stakeholders saw participation from diverse industry associations, including the Association of Women Entrepreneurs of Karnataka (AWAKE), Karnataka SC and ST Entrepreneurs Association, Plant-Based Food Industry Association (PBFIA), Ambala Scientific Instruments Manufacturers Association (ASIMA), Rajasthan Footwear Manufacturers Association, Federation of Associations of Cottage and Small Industries (West Bengal), Federation of Andhra Pradesh Small and Medium Association, and Laghu Udyog Bharati. These organizations represent a broad spectrum of industries, reflecting the varied challenges and opportunities within the MSME sector.
Purpose and Expectations
The pre-Budget consultation aims to incorporate MSME-specific challenges and opportunities into the Budget framework. The MSME sector, a key contributor to the Indian economy, plays a pivotal role in employment generation and export growth. Sitharaman emphasized the government’s commitment to ensuring that their voices shape future policies.
Broader Budget Context
The Finance Ministry has initiated its formal preparations for the upcoming Budget. The 2025-26 Budget, marking Sitharaman’s eighth, is anticipated to highlight economic priorities for the remainder of the Modi 3.0 tenure. As MSME stakeholders provided insights, the nation eagerly awaits key announcements that may bolster small enterprises, improve ease of doing business, and strengthen India’s economic resilience.
