New Delhi: In a post-budget Webinar on MSMEs on Tuesday (March 4, 2025), Prime Minister Narendra Modi stated that the progress of any country depends on its stable significant improvements in the ease of doing business by removing over 40,000 compliance. Additionally, a simplified income tax system has been introduced, and the government is now working on the Vishwas Bill 2.0.
7 Key Highlights from PM Modi’s Address:
First Full Budget of the Third Term: This Budget marks the first full budget of the government’s third term, and it has delivered much more than expected. In several sectors, the government has taken steps beyond what experts had anticipated.
Economic Partnerships with India: Today, every country wants to strengthen its economic partnership with India. Our manufacturing sector should take advantage of these opportunities.
Self-Reliant India and Reforms: The vision of a self-reliant India and the acceleration of reforms have been pushed forward. Efforts to mitigate the impact of COVID-19 have helped India become one of the fastest-growing economies.
Benefits of the PLI Scheme: 14 sectors are benefiting from the production Linked Incentive (PLI) scheme. Under this scheme, 7.5 crore units have been approved, over Rs. 1.5 lakh crore of investment has come in, Rs. 13 lakh crore worth of production has taken place, and exports have crossed Rs. 5 lakh crore.
Importance of R&D: Research and Development (R&D) plays a crucial role in India’s manufacturing journey. Through R&D, we can focus on innovative products and add value to them.
Improvement in Loan Distribution: New methods for loan distribution for the MSME sector will be introduced to ensure timely and low-cost loans. For the first time, 5 lakhs women, Sc, and ST Entrepreneurs will be able to get loans of up to Rs. 2 crore.
Simplified Policies and Business Environment: Over 40,000 compliances have been removed to make business easier. A simplified income tax system has also been launched, and the government is working on Jan Vishwas Bill 2.0 to further simplify the process.
Shashi Rai
