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Union Budget comes out with measures to boost MSME sector
The government will come out with a credit guarantee scheme for MSMEs to facilitate term loans without collateral or third party guarantee, Finance Minister Nirmala Sitharaman said on Tuesday 23 July.
Dr.G.R.Balakrishnan Jul 24 2024 Exim & Trade News

Union Budget comes out with measures to boost MSME sector

Presenting her seventh straight Union Budget, she also said that public sector banks to build in-house capability for credit assessment of MSMEs. As part of a slew of measures to boost the sector, the government will reduce the turnover threshold of MSME buyers for mandatory onboarding on TReDs platform from Rs 500 crore to Rs 250 crore.

TReDS is an online platform to help MSMEs (Micro, Small and Medium Enterprises). Among other steps, SIDBI will open 24 new branches to serve MSMEs clusters.