Budget is extremely encouraging for SMEs: R Narayan, Power2SME

The Union Budget is extremely encouraging for the start-ups and the SMEs. The proposal of establishing a Rs 10,000 crore venture capital fund for start-up firms will act as a catalyst to attract private capital by way of providing equity, quasi equity, soft loans and other risk capital for start-up companies. It will create a favourable ecosystem for the start-ups to flourish.
 
The revision of the MSME definition for high capital ceiling, will enable the SMEs to get greater credit from the market, in turn helping them to grow and expand. Additionally, the setting up of 20 new clusters and sanctioning of Rs 200 crore for development of 6 more textile clusters will provide a platform for SMEs to share best practices, pool resources and grow their enterprise fast, along with generating employment opportunities, thereby affecting the growth of the Indian economy in a positive manner.
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R Narayan is the Founder & CEO of Power2SME