The Micro, Small and Medium Enterprises Association (MSME) of Mysore has welcomed the Union Budget as a balanced budget.It lauded the proposal to earmark Rs 5,000 crore to SIDBI and Rs 3,000 crore to Nabard and said this will support MSMEs in the country. It will also help self-assessment for imports and exports and duty-free exports.
The MSME also hailed tax reduction to electro-mobile hybrid cars, solar equipments, garments, steel and yarn. These would benefit industries in those sectors to boost production and make the items available at lower costs, Association Secretary Suresh Kumar Jain said. Besides being a balanced budget, it was agri-based and eco-friendly as it supported these vital sectors too, he added.