MSMEs Gain Momentum: An Insight into the Fund Allocation in the Budget over the years

Abstract

The Micro, Small and Medium enterprises (MSMEs) are the largest employers in the country after agriculture. The labor intensive sector employs approximately 114 million persons and contributes nearly 30 per cent to India’s GDP. MSME is considered as the boon for the fresh talents in India promoting economic solidity in terms of growth and export. Approximately 50 per cent of our exports come from goods and services produced and sold by the sector. Not only that the MSMEs and its contributions are directly or indirectly benefitting many other prime sectors of the country. The government acknowledging the importance of the sector grants a major part of its outlay on the same. The article is an attempt to present the analysis of the improvisation in the fund allocation for the sector in the last three budgets till the current one passed on 17th of March 2021.