Budget 2024: The Finance Minister opened the treasury for MSME sector! Now you will get loan up to 20 lakhs under Mudra Yojana..
The first budget of the third term of the Modi government is being presented. While presenting the Union Budget, the country's Finance Minister Nirmala Sitharaman has also paid special attention to the MSME and manufacturing sector.
Mudra Loan limit increased.
It has been announced in the Union Budget 2024 that a new system will be created to facilitate MSMEs to continue bank loans during their period of stress. The limit of the Mudra loan has been increased to Rs 20 lakh, which was earlier limited to Rs 10 lakh.
What did the MSME sector get?
While presenting the general budget, the Union Finance Minister has also made many big announcements for the MSME sector. Let us know these in different points.
The turnover limit will be reduced from Rs 500 crore to Rs 250 crore for mandatory inclusion of buyers on the trades platform.
Financial assistance will be given to set up 50 multi-product food irradiation units in the MSME sector.
E-commerce export hubs will be set up in PPP mode to enable MSMEs and traditional artisans to sell their products in international markets.
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