CII Goa Council hails Budget, says MSMEs get a fillip

The total announcements for MSMEs in the Budget Speech 2021 have been extended to Rs 15,700 crore, which is double as compared to the last year's Budget, and it comes as a big relief to such firms, the Confederation of Indian Industry's Goa Council said on Monday.

This will boost the MSME development, he said.

CII Goa Council Chairman Blaise Costabir said the announcements made by Finance Minister Nirmala Sitharaman in her Budget Speech for MSMEs was to the tune of Rs 15,700 crore, which is double compared to the last year's budget. ''It comes as a big relief to the MSMEs.'' CII Goa welcomes the announcements, he said.

With the manifold increase in digital payments, CII welcomes the Rs 1,500-crore scheme to promote digital mode of payments, Costabir said.

He added that this would further give an overall boost to digital transactions.

The Confederation also welcomed the announcement of legislation on Higher Education Commission in the coming financial year, which would help enhance the overall education framework in the country, the chairman said.

CII has also welcomed the allocation of Rs 50,000 crore for the National Research Foundation for over 5 years, which will strengthen the overall research ecosystem.

He said that focus would be on identifying national priority thrust areas.

The industry body also commended the announcement of one-year extension of tax holiday and capital gains exemption for start-ups.

This will incentivise funding in the start-up sector.

The affordable housing projects can avail a tax holiday for one more year. It is also a welcome announcement by the government, he said.