MSMEs can reap upto 2 trillion business from Budget boost says a report

domainking131

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MSME’s are all set to receive incremental business worth around Rs 2 trillion out of the Rs 3 trillion allocated to the sector in the Budget, a report says. The Rs 3,02,885 crore allocated towards the MSME sector can lead to a direct benefit of Rs 2,00,000 crore to the sector, according to domestic rating agency Smera Ratings. These benefits are roughly 10.5 per cent of the total expenditure of the Budget estimate for 2016-17, the agency said in a note.

The Rs 60-trillion MSME sector contributes a whopping 37.5 per cent of GDP and employs the most number of people. This allocation is divided between consumption and investment categories. A sum of Rs 95,638 crore will go into consumption and Rs 2,07,247 crore to investment, it said.


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