Budget Reaction: MSMEs And Stationary Sector: Experts' Opinion

MSMEs have received little attention in this Union Budget, 2022, compared to the last year's budget. Additionally, the stationary sector also received no focussed aid. The corporate tax is a significant concern for the stationary sector. Two experts have spoken on this matter.

Deepak Jalan, CEO & Managing Director, Linc Ltd. commented, "I think most of the Budget objectives were achieved in budget-2022. Congratulations to the Finance Minister for presenting a budget that focuses on infrastructure & growth. The increased outlays and strategic spending will build the growth momentum. The budget also restores stability in taxation policies and gives hope that the increasing GDP will lead to tax buoyancies. As far as the stationary industry is concerned, I am glad that there are no surprises. We already have competitive corporate tax rates and no further reduction was expected. Extension of tax holiday for start-ups by another year is welcomed. An increase in the time frame for availing input tax credit will also be helpful."

Nivedan Churiwal, Managing Director, BSL Ltd. (textile manufacturing segment) told media, "The Finance Minister presented a positive and growth-oriented budget which was overall on expected lines. No major tinkering has been done and major impetus has been given to the startups and reduction in taxation on digital assets is also a step in the right direction. The budget has tried to encompass all segments of the society with a focus on rural housing, MSP direct payments, and Rs. 2.00 trillion outlay for MSME. The Gati Shakti master plan will give a massive boost to the rail and road network in the connectivity in the country. Overall, the Government is taking the economy ahead in the right direction."