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The Union Budget has mitigated some of the main concerns of the Micro, Small and Medium Scale (MSME) enterprises by allocating Rs 20,000 crore for Mudra Bank to enhance credit for SMEs, another Rs 1,000 crore for supporting start-ups and a new National Skills Mission to spur job creation, said Chidananda M Rajamane , President, Karnataka Small Scale Industries Association (KASSIA).
In his reaction to the Union Budget 2015-16 on behalf of the Karnataka’s MSME sector, Rajamane said the newly proposed gold monetisation scheme, cut in Customs duty on 22 specified items, and service tax exemption for pre-cold storage warehousing are welcome, though this may slightly be offset against the marginal increase in central excise to 14 per cent, he said.
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