Budget 2013-14 Would Spur Growth of MSMEs: SIDBI

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The Union Budget 2013-14 embodies strong features of promoting investment and putting the economy on the high growth path leading to inclusive and sustainable development. With a view to giving boost to small and medium enterprises, some of the benefits extended through the sector include:

In a statement, T R Bajalia, Dy Managing Director, SIDBI, said nearly 3.5 lakh MSEs would benefit following the announcement to enhance the refinancing capability of SIDBI from the current level of Rs 5,000 crore to Rs 10,000 crore per year.This is helpful in providing credit facilities at affordable rate by SIDBI to micro, and small enterprises through banks and SFCs.

Mr Bajalia also welcomed other measures in the budget for MSME sector such as: assistance of Rs 2,200 crore during 12th Plan period for setting up 15 Tool Rooms and Technology Development Centres by the Ministry of Micro, Small and Medium Enterprises, Rs 2400 crore under Technology Upgradation Fund Scheme for the textile sector, setting up of Apparel Parks under the Scheme for Integrated Textile Parks, implementation of a new scheme called the Integrated Processing Development Scheme with an outlay of ` 500 crore to address the environmental concerns of the textile industry, and availability of working capital and term loans at a concessional interest to handloom weavers.

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