TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
*
Home
Press release
Feb 17, 2023 20:15 JST
Source:
SMEStreet Foundation
SMEStreet Decoding Budget 2023 Webinar Showcased Key Takeaways for MSMEs in Union Budget 2023-24
Delhi, India, Feb 17, 2023 - (ACN Newswire) - SMEStreet Decoding Budget 2023 webinar was successfully conducted and participated by MSME finance experts. The Decoding Budget is an 9-year-old activity of SMEStreet. after every Union Budget announcement, SMEStreet reaches out to MSMEs and Industry Experts and explains the Union Budget from the perspective of MSMEs.
This year, the activity was concluded on 15th Feb 2023, with a Webinar - SMEStreet Decoding Budget 2023. The webinar was also presented with the support from Ministry of MSME, Govt of India. Organized by SMEStreet Foundation - MSME-focused Section-8 Organization with an objective to contribute in MSMEs' Development through Knowledge Sharing and Networking.
The participants of this year's Decoding Budget activity included Shri S Ravi, Ex-Chairman BSE and Director of Ravi Rajan & Co., Shri Ajay Thakur, CEO, BSE-SME, CA Deepak Maheshwari, Co-Founder JindigiLive , Shri Sandeep Mohindroo, Managing Director M1XChange and Ms Suhani Gambhir, Chief Customer Success, Presence360. The Panel expressed their observations on this year's Union Budget with a positive transformative objective and called it an all-rounder budget with a long-term vision for India's Economic growth. Dr. Faiz Askari, Founder and Cheif Editor of SMEStreet and Secretary General of SMEStreet Foundation (
https://smestreet.in/smestreet-foundation/
) moderated the event and presented SMEStreet's entire Union Budget activity which was started in November end 2022 as a pre-budget recommendation, Budget expectations to Post Budget Analysis and a Quick Post Union Budget Survey for understanding key takeaways for MSMEs.
The Union Budget 2023-24 was presented by Honourable Finance Minister Smt. Nirmala Sitharaman on February 1st 2023 at the Central Hall of Lok Sabha is considered to be a visionary Amrit Kaal Budget. This document gave a great direction to the vision of building India's global leadership in years to come. This Budget was also designed and aligned with the Goal Setting of India's Leadership under Prime Minister Shri Narendra Modi's vision for India.
From the target chase of 5 Trillion Dollar economy to India's G 20 Presidency, the Budget 2023 envisioned a clear roadmap for India's growth and has several takeaways for MSMEs of the country.
The MSME sector continues to be at the forefront of policymaking towards India's economic growth. Well, commonly referred to as the backbone of the economy, we at SMEStreet consider MSMEs as the face of the Indian economy.
The Panel Discussion
In the Panel discussion, Shri S Ravi, Ex-Chairman BSE and Director of Ravi Rajan & Co., mentioned that this year's UNION Budget is designed keeping in mind some long term growth. "This Budget bought clarity towards achiving India's economic growth and global leadership in years to come. UNion Budget 2023's INfratsructure focus illustrated INdia's commitment towards overall and holistic growth," says Shri S Ravi.
Shri Ajay Thakur, CEO, BSE-SME who has sent his message to SMEStreet have mentioned that through this Budget The hon'ble Finance MInisiter indicated that the Budget 2023 will give a great boost to MSMEs who wish to grow to next levels.
CA Deepak Maheshwari, Co-Founder JindigiLive, stated his perspective on key takeaways for Indian Startups. Mr Maheshwari commented, "Role of Startups are becoming extremely relevant and dynamic in today's economic growth. Ease of Doing Business has also become very important aspect for policymaker since last few years. This year's Budget gave great impetus on this aspect as well."
Discussing the issue of Delayed Payment faced by MSMEs, Shri Sandeep Mohindroo, Managing Director M1XChange said, "Delayed Payments are one of the major hurdle for MSMEs' growth. A lot of efforts are made to tackle this problem. This year's Union Budget gave more clarity on Govt's commitment towards solving this problem of delayed payment for MSMEs. However, focus towards digital payments adoption in this Budget document motivates small businesses to further utilise the advantages of digital payments."
Ms Suhani Gambhir, Chief Customer Success, Presence360 highlighted the role of technology in bringing much needed positive transformation for MSMEs. Ms Suhani highlighted the importance of digital technologies for MSMEs, specially in achieving manpower efficiency. She also emphasized about Presence360.
Dr Faiz Askari, Founder and Chief Editor of SMEStreet and Secretary General of SMEStreet Foundation presented SMEStreet's activity highlights on Union Budget 2023 and mentioned, "We reached out to MSMEs across verticals and geography and tried to understand their expectations from the Union Budget 2023-24. And A post Budget activity we again approached MSMEs and tried to understand their key takeaways from the Budget. This entire activity lasted for over three months with major portion going into the pre budget action. With this Decoding Budget 2023 Webinar we aim to further strengthen our commitment towards strengthenking the MSME Voice at the policydoor step. We are thankful to the distinguished panelists who were part of the activity and shared their expert opinions on the Budget 2023 with the perspective of MSMEs."
SMEStreet Budget 2023 Activity
The entire Union Budget 2023-24 activity was anchored on SMEStreet.in/tag/Union-Budget-2023. The Hashtag #BudgetWithSMEStreet also went actively discussed on Social Media.
The Key highlights of SMEStreet Post Budget 2023 Survey on MSMEs' Takeaways from the Union Bduegt 2023-24 are as follows:
1. Credit Guarantee Enhancement Corporation: A new institution has been proposed to provide credit guarantee for MSMEs and enhance their access to credit.
2. Emergency Credit Line Guarantee Scheme (ECLGS 3.0): The government has extended the ECLGS scheme to cover MSMEs affected by the second wave of COVID-19.
3. E-Market Linkage for MSMEs: The government has proposed to set up an e-market linkage for MSMEs to enable them to reach a wider market and increase their sales.
4. MSME facilitation centers: The government has proposed to set up MSME facilitation centers across the country to provide end-to-end support to MSMEs.
5. Technology Upgradation: The government has proposed to allocate funds for technology upgradation and modernization of MSMEs.
The Webinar was broadcasted also on Youtube: SMEStreet ViewPoint Channel (www.youtube.com/watch?v=fZmUHKNb1dI&feature=youtu.be).
Source: SMEStreet Foundation
Sectors: Trade Shows, Startups
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Related Press Release
SMEStreet Celebrates 10 Years of Serving Indian MSMEs
May 02 2024 22:20 JST
SMEStreet Report on G20 Summit's Impact on Indian SMEs
September 30 2023 11:00 JST
SMEStreet League of Mentors Proudly Welcomes Mr Deepak Maheshwari as the Chairperson for MSME & Startups - Finance & Growth Committee of 2023-24
June 20 2023 08:00 JST
Future Ready Digital Transformation for Indian MSMEs: Campaign Powered by Staqo and SMEStreet to Empower MSMEs' Digital Transformation
December 22 2022 15:31 JST
SMEStreet and World University of Leadership & Management Join Hands for Bringing Academia and Industry Closer
November 17 2022 10:36 JST
Uttar Pradesh MSME Minister Rakesh Sachan Urged MSMEs to Invest in the State at SMEStreet GameChangers Forum 2022 Webinar
July 21 2022 13:05 JST
SMEStreet GameChangers Forum 2022 to be Inaugurated on World MSME Day
June 22 2022 15:19 JST
SMEStreet and Tally Solutions Join Hands for National Productivity Day's Exclusive Webinar on Industry 4.0
February 18 2022 21:00 JST
SMEStreet Global Women Leadership Awards 2021 Successfully Conducted
October 25 2021 12:19 JST
SMEStreet Global Women Leadership Awards and International Forum for Economic Empowerment Through Women Entrepreneurship to be Organized
September 20 2021 21:32 JST
More Press release >>
Latest Press Release
Four-strong TOYOTA GAZOO Racing squad to push for more Portugal success
May 02, 2024 18:05 JST
Spectacular Spa awaits TOYOTA GAZOO Racing
May 02, 2024 17:46 JST
Q&M Dental Enhances Digital Capabilities by Integrating Align Technology's Newest iTero Lumina(TM) Intraoral Scanner Across Dental Clinics in Singapore
May 02, 2024 11:00 JST
Sumitomo Metal Mining and Mitsubishi Corporation to Participate in Kalgoorlie Nickel Project - Goongarrie Hub
Apr 30, 2024 19:08 JST
New Immuno-Oncology Research Project in Partnership With Merck Starts at the BioMed X Institute in Heidelberg
Apr 30, 2024 18:00 JST
SPARX Group Establishes Space Frontiers Second Fund
Apr 29, 2024 18:49 JST
MHI Establishes Local Subsidiary "Mitsubishi Heavy Industries Vietnam"
Apr 29, 2024 18:00 JST
POSCO Future M and Honda Reach Basic Agreement on Collaboration for Production of Cathode Materials for Automotive Batteries in Canada
Apr 29, 2024 14:25 JST
Honda Plans to Establish Comprehensive Electric Vehicle Value Chain in Ontario, Canada
Apr 29, 2024 14:16 JST
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan
Apr 26, 2024 10:00 JST
Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST
MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST
GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST
Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST
Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST
UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST
Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST
MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST
Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST
NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST
More Latest Release >>