Post Budget Quote on MSME by Mr. Lokesh Harjani, Founder & CEO – OnSpot Solutions
ECLGS scheme is a welcomed initiative and will help the MSME segment with their cash flows and help fuel growth for companies across segments. The interlinkage of government portals will help credit facilitation and enhance entrepreneurial growth for tenders and new business opportunities in a single reformed structure. This level playing field should yield a chance to start-ups and young companies registered as MSME to offer their products and services. Further integration of government portals will help ease the financial burdens with cleaner payment lines making payments more on time than in the past. This itself, will once again, help very important cash flows and credit lines of MSME companies. The extension of the 15% tax scheme for start-ups for an additional year, is of course, welcome. Additionally, the government has allowed public sector undertakings / government companies to accept surety bonds thereby making it easier for smaller companies to provide performance guarantees which may help in the bidding stipulations for tenders. This step should make competition thrive across different sized companies listed under MSME, especially those in start-up mode. The digital Rupee initiative may open up opportunities for the IT sector in the future.
Overall, the reforms inculcated in the budget is positive for the MSME segment, and hopefully it shall provide them with growth opportunities, and the government in the next budget can look for reforms and allocations of programmes for the MSME segment.
Have attached company as well as spokesperson profiles for your reference. Please let us know if you shall be needing anything else. Also would be more than happy to connect you with Mr. Lokesh Harjani on the same.
Post Budget Quote | Goavega (IT Technology)
