Union Budget 2022: The roadmap to 9% growth relies on small businesses

The Finance Minister’s Union Budget focuses on three pillars: inclusive welfare, digital transformation and sustainability, and private investment leveraging. All of this is geared at shifting the country’s focus away from the pandemic and toward ‘India @100.’

The three pillars have the potential to have a positive influence on MSMEs and the startup environment in the country in the short and long term. Many small businesses have been impacted by the epidemic, and they will require further assistance in the form of improved market access to remain competitive and participate in global value chains.

There are certain direct benefits for MSMEs and startups, which include the following:

Overall, the budget continues to provide much-needed assistance to MSMEs in terms of funding and market access. Small enterprises are the backbone of our country, and they must be strengthened for the economy to pivot to the 9% growth predicted by the Finance Minister.

Radium Box Foundation

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