Union Minister Nitin Gadkari on Friday welcomed the announcements for MSMEs in the Budget and said his ministry has decided to raise the sector's contribution to 50 per cent of the country's GDP in the next five years from 29 per cent currently and provide jobs to 15 crore people.
"The speciality of this Budget is that our small-scale and medium-scale industries have received maximum encouragement. (MSMEs) have a contribution of 29 per cent in our country's GDP and the department has decided that we will increase the contribution to 50 per cent of the GDP," said Gadkari, Union Minister for MSME and Road, Transport and Highways.
He added that till now, 11 crore persons have received employment in MSMEs. "We will add 5 crore jobs to this and take the number to over 15 crore in five years."
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