Special consideration for small and medium enterprises, loans up to Rs 100 crore

NEW DELHI: In the first budget of the third Modi government, special consideration has been given to small and medium enterprises (MSMEs). The Credit Guarantee Scheme provides collateral-free loans to small and medium enterprises. For this, it will come up with new guarantee plans to enable loans up to Rs 100 crore. The minister also informed that bank loans will be facilitated for MSMEs.

A new scheme has been introduced to facilitate term loans for MSMEs to purchase machinery and equipment without collateral or guarantee. Mudra loan limit has been raised from Rs 10 lakhs to 20 lakhs. More industrial parks will be brought in the country.

12 more industrial parks will be implemented soon. Finance Minister Nirmala Sitharaman had informed that more attention is being given to the labour, middle class and small and medium sectors in the budget.

This is Nirmala Sitharaman's seventh budget in a row. With this, the record of former finance minister Morarji Desai has been surpassed. Nirmala Sitharaman, who was the finance minister in the second Modi government, presented six budgets, including an interim budget. Morarji presented six budgets from 1959 to 1964, including the interim budget.