Pre-Budget Expectations: Nishith Maheshwari Head, Digital Business Loans, InCred Finance

24 Jan 2025 , 10:57 AM

The MSME sector, the backbone of India’s economy, requires a strong push toward innovation and technological adoption. Simplifying interstate and export logistics compliance is critical to enabling seamless commerce. Expanding the scope of credit guarantee schemes will enhance access to funding for startups and export-focused MSMEs, fostering growth across the sector. To accelerate the adoption of EV charging infrastructure, tax benefits should be extended to hotels, malls, parking facilities, and other establishments that provide public EV charging stations.

Budget 2025 should prioritize the formalization of MSMEs by simplifying tax and compliance processes, encouraging more businesses to integrate into the formal economy. Streamlining complex filing requirements is essential to reducing operational costs and enabling MSMEs to scale effectively.