PM Modi arriving at Parliament on January 31, 2025 for the Budget session
But, regulatory challenges still need attention
By MUKUL GOYAL
Co-Founder of Stratefix Consulting
The Economic Survey 2025 brings good news for MSMEs, which are vital for job creation and economic growth. The revamped Credit Guarantee Scheme, with a ₹9,000 crore corpus and increased credit limits, will help small businesses access the financing they need.
The ₹50,000 crore Self-Reliant India Fund is another step in supporting MSMEs as they grow. The rise in TReDS adoption ensures better cash flow for businesses by promoting timely payments, while initiatives like the Udyam Registration Portal and Udyam Assist Platform are making it easier for informal businesses to formalise and comply with regulations.
Additionally, the focus on rural talent through PMIS internships and programmes like Growtherator are great steps to bridge the gap between rural entrepreneurs and corporate opportunities. The partnership with NRLM-GAME under WEFEP also strengthens financial access for rural women entrepreneurs, further promoting inclusive growth.
While these steps are encouraging, regulatory challenges still need attention to boost MSME formalisation and productivity. The Economic Survey highlights the importance of continued policy support, better access to finance, and streamlined execution to sustain the growth of this critical sector.
