New Delhi: Prime Minister Narendra Modi will participate in three post-budget webinars on March 4 which will include discussions on MSMEs as an engine of growth, manufacturing, exports, and economic reforms to facilitate the ease of doing business, according to a PMO statement issued on Monday.
The Prime Minister will also address the gathering on the occasion via video conferencing which will provide a collaborative platform for government officials, industry leaders, and trade experts to deliberate on India’s industrial, trade, and energy strategies, the statement said.
The discussions will focus on policy execution, investment facilitation, and technology adoption, ensuring seamless implementation of the Budget’s transformative measures. The webinars will engage private sector experts, industry representatives, and subject matter specialists to align efforts and drive impactful implementation of Budget announcements, the statement added.
The Union Budget for 2025-26 presented by Finance Minister Nirmala Sitharaman on February 1 this year highlights that Agriculture, MSME, Investment, and Exports are “engines of growth in the journey to Viksit Bharat using reforms as fuel, guided by the spirit of inclusivity.”
MSMEs have been identified as the second engine of inclusive growth in the Union Budget for 2025-26 next to agriculture as they employ 7.5 crore people and contribute 36 per cent to India’s manufacturing. These MSMEs are crucial in positioning India as a global manufacturing hub, account for 45 per cent of the nation’s exports.
To boost their growth and efficiency, the government will enhance the investment and turnover limits for MSMEs, increasing them by 2.5 times and 2 times, respectively. This move is expected to empower MSMEs to scale up, innovate, and generate more employment opportunities for the youth.
The Finance Minister emphasised investment as the third engine of growth, which includes investing in people, the economy, and innovation.
In a big boost to employment-led growth, the launch of the “National Manufacturing Mission” in the Budget to cover small, medium and large industries comes as a major driver for “Make in India” campaign.
The Mission will lay emphasis on five focal areas, i.e. ease and cost of doing business; future ready workforce for in-demand jobs; a vibrant and dynamic MSME sector; availability of technology; and quality products, the Finance Minister said.
FM Sitharaman defined Exports as the fourth engine of growth and said that jointly driven by the Ministries of Commerce, MSME, and Finance; Export Promotion Mission will help MSMEs tap into the export market.
(IANS)
