Empowerment of MSMEs and Service Sectors

MSMEs are recognised as the “engine of growth” and are being supported through a three-pronged strategy focused on equity, liquidity and professional assistance.

The budget also places emphasis on strengthening the services sector, creative economy and employment-oriented growth.

Initiative	Details
SME Growth Fund	A dedicated Rs. 10,000 crore fund has been created to provide equity support to promising MSMEs.
TReDS Reform	TReDS will be mandated for all CPSE purchases from MSMEs to improve liquidity and faster payments.
GeM-TReDS Linkage	The Government e-Marketplace (GeM) will be linked with TReDS to strengthen invoice discounting for MSMEs.
Asset-Backed Securities	TReDS receivables will be introduced as Asset-Backed Securities to improve financing access.
Corporate Mitras	A new cadre of accredited para-professionals designed by ICAI/ICSI will assist MSMEs in Tier-II and Tier-III towns with compliance requirements.
Services Sector Vision	A Standing Committee on ‘Education to Employment and Enterprise’ will recommend measures to raise India’s share in global services to 10% by 2047.
Orange Economy	The budget supports the Indian Institute of Creative Technologies, Mumbai and proposes AVGC Content Creator Labs in 15,000 schools.

PT Facts

TReDS: Enables MSMEs to receive early payment against invoices through invoice discounting.
GeM: Government e-Marketplace is India’s public procurement portal.
AVGC: Animation, Visual Effects, Gaming and Comics sector is part of the creative economy.
ICAI/ICSI: Professional bodies linked with chartered accountancy and company secretaries.

Source:

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