Union Budget 2024-25: Boosting MSMEs, Skills and Jobs

CII Telangana and FTCCI praised the growth-oriented Union Budget 2024-25, highlighting its focus on MSMEs, job creation, and skill development. The budget outlines a comprehensive strategy for inclusive growth, emphasizing employment, skilling, and support for start-ups and women. It aims to drive economic expansion while maintaining fiscal targets.

In a statement on Tuesday, CII Telangana termed the Union Budget as growth-oriented, emphasizing its significant boost for MSMEs, job creation, and skill development.

The Federation of Telangana Chambers of Commerce and Industry (FTCCI) lauded the Budget presented by Finance Minister Nirmala Sitharaman, describing it as progressive and pro-development, with a vision for a 'Viksit Bharat'. According to CII Telangana Chairman Sai D Prasad, the Budget's extensive focus on MSMEs and a detailed strategy for societal growth ensures that every Indian shares the nation's ambitions.

Prasad noted that the nine priorities for a 'Viksit Bharat' offer a framework for a resilient and prosperous nation by 2047. The Budget's emphasis on employment, MSMEs, skill development, and the middle class, alongside agricultural and urban development reforms, aims to stimulate economic growth and promote inclusivity.

Additionally, the Finance Minister aims to maintain the fiscal deficit at 4.9% of GDP, with targeted measures including opening new SIDBI branches and revising the MUDRA loan cap to empower entrepreneurs. FTCCI President Suresh Kumar Singhal and Vice Chairman RS Reddy echoed these sentiments, focusing on the positive impact on the MSME sector.