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BUSINESS & TRADE FEBRUARY 28, 2025 | The Indian Eye 30

Govt banks on medium & small industry with focus

on inclusive growth to drive engine of economy

PM Modi further assured the industry of the government’s dedication to ensuring

policy continuity, particularly for manufacturing and exports

OUR BUREAU the pilot project for the PM Intern-
ship Scheme announced in the Bud-
New Delhi
get of 2024-25, creating over 1.25 lakh
rime Minister Narendra Modi internship opportunities in top com-
has said that MSMEs play panies with over six lakh applications
Pa transformative role in the received so far.
economic growth of India. Govern- “This is consistent with our track
ment is committed to nurturing and record of delivering on promises
strengthening this sector, during his made in previous budgets,” she added.
virtual address at the Post Budget We- Since 2017, the Budget has been
binar 2025 on Tuesday. presented on February 1, instead of
To further streamline regulations, March 1.
the Prime Minister announced the Sitharaman said presenting the
formation of a committee to review Budget a month earlier provides the
regulations in the non-financial sec- government with more time for the
tor. “A decision has also been taken departments and ministries to plan
to constitute a committee to review and implement the Budget announce-
regulations in the non-financial sector. ments in the same financial year.
We aim to make them modern, flexi- She said her government is on the
ble, and people-friendly. The industry verge of bringing up the Jan Vishwas
will play a crucial role in this exercise.” Bill 2.0 to decriminalize more than
He stated, “Today, the country 100 provisions in various laws. “It will
has been witnessing an unprecedent- further simplify processes for busi-
ed consistency in government poli- nesses,” she said.
cies for over a decade. Over the past For the year 2025-26, the total
10 years, India has demonstrated its effective capital expenditure is pro-
commitment to continuous reforms, posed at Rs 15.48 lakh crores, which is
financial discipline, transparency, and 4.3 per cent of the GDP, with Rs 11.21
inclusive growth.’ lakh crores located as core capital ex-
He added, “The assurance of penditure by the centre, which is 3.1
consistency and reforms has brought per cent of the GDP.
a new sense of confidence within our Capital expenditure, or capex, is
industry. I assure every stakeholder used to set up long-term physical or
associated with manufacturing and fixed assets.
exports that this continuity will re- The minimal difference between
main steadfast in the years to come.” the effective capital expenditure and
He further assured the industry fiscal deficit indicates that the govern-
of the government’s dedication to en- Prime Minister Narendra Modi addresses Post Budget Webinar, in New Delhi on Tuesday (ANI) ment is using almost all borrowed re-
suring policy continuity, particularly sources for financing effective capital
for manufacturing and exports, “The PM Modi reaffirmed India’s po- Budget have been implemented in a expenditure.
assurance of consistency and reforms sition as a key driver of global growth. short time. “This unprecedented investment
has brought a new sense of confi- “Today, the world sees India as a She said that the Mudra loan lim- in infrastructure development is al-
dence within our industry. I assure growth centre,” he said, urging indus- it under the Tarun category has been ready creating jobs, strengthening in-
every stakeholder associated with tries to seize emerging opportunities increased from Rs 10 lakh to Rs 20 dustries and laying the foundation for
manufacturing and exports that this and drive economic expansion. lakh, as was announced in the July private sector participation in India’s
continuity will remain steadfast in the Also on Tuesday, Finance Minis- 2024 Budget. This new limit took ef- growth story,” she supplemented.
years to come.” ter Nirmala Sitharaman said that her fect on October 24, 2024, within three “Various important inputs have
Highlighting India’s growing government is committed to ensuring months of the announcement. been received during the course of
global economic stature, PM Modi the timely implementation of all Bud- Further, she said 21 new SIDBI the discussion (during the webinar
remarked, “Today, every country in get announcements made for the year branches have already been opened today), and they will be looked into.
the world wants to strengthen its eco- 2025-26. Speaking at a post-Budget in MSME clusters during 2024-25 in The inputs will help align our strate-
nomic partnership with India. Our webinar hosted by the Department of line with the budget announcements gies, address possible implementation
manufacturing sector must step for- Financial Services, the finance min- made in July. challenges, and ensure that budgetary
ward to maximize the benefits of this ister recounted how some of the an- She added that the Ministry of announcements efficiently translate
partnership.” nouncements made in the July 2024 Corporate Affairs has implemented into tangible actions,” she added.

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