UCCI Anticipates MSME-Centric Union Budget for 2025-26

The Utkal Chamber of Commerce and Industry (UCCI) President, Dr. Prabodh Mohanty, is hopeful for a progressive Union Budget 2025-26 that focuses on the growth of the MSME sector. He advocates for reduced corporate taxes, financial incentives, streamlined procurement policies, and support for technological advancements to bolster India's economic progress.

The President of the Utkal Chamber of Commerce and Industry (UCCI), Dr. Prabodh Mohanty, expressed optimism about the upcoming Union Budget 2025-26, emphasizing a need for a focus on the micro, small, and medium enterprises (MSMEs) sector. Mohanty stated the sector's critical role in achieving India's $5 trillion economic target.

According to Mohanty, the UCCI, as a national industry association, is hopeful for budget provisions such as reduced corporate tax, financial incentives, and interest subsidies, particularly for the MSME sector. These measures, he suggested, could significantly enhance the sector's vibrancy, notably in Odisha.

Highlighting the challenges faced by MSMEs, Mohanty urged for streamlined procurement policies and timely payments to improve liquidity and working capital positions. He also called for government incentives in digitization and sustainable technological practices, envisioning enhanced competitiveness on the global stage.

(With inputs from agencies.)