Scholarlink

In recent years, India has been continuously evolving with various initiatives in the Union Budgets and policies to support the growth of MSMEs, which contribute significantly to the Indian economy through industrialization and employment opportunities. The Union Budget of 2024 emphasizes innovation, easing the burden, and advancing infrastructure for MSMEs with an allocation of Rs. 50,000 crores to help meet their financial needs. This study aims to gain insights into how the Union Budget 2024 can be beneficial and challenging to MSMEs. Based solely on secondary data, which includes past budgets, the study analyses the potential success through qualitative and quantitative data, providing a visual presentation of the findings. The results indicates that the Union Budget 2024 plays a crucial role in encouraging and fostering entrepreneurship through financing, innovation, and infrastructure advancement. However, there is a need to focus on grievance mechanisms, simplifying GST filing, and funding workforce training. Overall, while Union Budget 2024 has potential to significantly benefit MSMEs, considering the past budgets and success stories, addressing these minor aspects could enhance its effectiveness.

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Evaluating the Role of the Union Budget 2024 in Supporting MSMEs: A Comparative Analysis

  • 章节

  • 发表日期：

    2025年

查看全文
  • Prajna Shenoy Y,
  • Niyaz Panakaje,
  • Abbokar Siddiq,
  • S. M. Riha Parvin,
  • Shakira Irfana,
  • Madhura K,
  • Nushruth,
  • Rovina Sharon Soans

摘要

In recent years, India has been continuously evolving with various initiatives in the Union Budgets and policies to support the growth of MSMEs, which contribute significantly to the Indian economy through industrialization and employment opportunities. The Union Budget of 2024 emphasizes innovation, easing the burden, and advancing infrastructure for MSMEs with an allocation of Rs. 50,000 crores to help meet their financial needs. This study aims to gain insights into how the Union Budget 2024 can be beneficial and challenging to MSMEs. Based solely on secondary data, which includes past budgets, the study analyses the potential success through qualitative and quantitative data, providing a visual presentation of the findings. The results indicates that the Union Budget 2024 plays a crucial role in encouraging and fostering entrepreneurship through financing, innovation, and infrastructure advancement. However, there is a need to focus on grievance mechanisms, simplifying GST filing, and funding workforce training. Overall, while Union Budget 2024 has potential to significantly benefit MSMEs, considering the past budgets and success stories, addressing these minor aspects could enhance its effectiveness.