KPMG Budget Statement on MSME

Key elements of the Budget such as 16-point action plan for integrated solutions for farmers, focus on better wellness & health and education and skill development initiatives will be crucial to the ‘Aspirational India’ growth agenda.

Feb 01, 2020 04:02 IST India Infoline News Service

“The budget this year has clearly focused on uplifting the ease and quality of life for all, with the undermining objective of achieving a consumption led growth. Key elements of the Budget such as 16-point action plan for integrated solutions for farmers, focus on better wellness & health and education and skill development initiatives will be crucial to the ‘Aspirational India’ growth agenda.  
 
Thrust on MSMEs through credit availability, compliance burden reduction, etc. will continue to augment entrepreneurship, thus also directly impacting job creation. Focus on modernization is cemented with IP protection, use of digital technology in governance, and expansion of digital connectivity. Lastly, reduction of rates on tax slabs will provide much needed disposable income in lower & middle class to spur consumer spending (estimated revenue forgone of ~40,000 crore per year). Overall, this budget provides a larger vision with a holistic focus to maintain a careful balance between strengthening infrastructure, modernization and driving growth. Speed and quality of implementation of schemes and initiatives will be key to maximize benefits for overall development.”
 
Harsha Razdan, Partner and Head, Consumer Markets and Internet Business, KPMG in India

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