Budget 2025-26: Stakeholders of Micro, Small and Medium Enterprises (MSME) held a pre-budget meeting with Finance Minister Nirmala Sitharaman on 7 December. In this meeting, he demanded a decrease in GST, technology upgrade and production linked incentive for various fields. The purpose of the meeting was to get input and suggestions for the budget of FY 2025-26. Budget 2025, to be introduced on 1 February.
Union of women entrepreneurs of Karnataka (AWAKE) in the meeting; Union of Karnataka SC and ST entrepreneurs; Plant-based Food Industry Association (PBFIA); Ambala Scientific Instruments Manufacturers Association (Asima); Members of the Rajasthan Footwear Manufacturers Association were involved.
All-India Plastic Manufacturers Association; All India Manufacturers Association; Gujarat Chamber of Small Industries Association; Federation of Association of Cottage and Small Industries (located in West Bengal); Federation of Andhra Pradesh Small and Medium Association; And small scale industry Bharti was also present during the conversation.
This suggestion given about GEM portal
Talking to the media after the meeting, All India General of Small Scale Bharti Sacre Tari Om Prakash Gupta said that the meeting was raised in the meeting. Gupta said, “We suggested that if the GEM portal is linked to enterprise registration, it will get a good response. The GEM has crossed the annual turnover of Rs 4 lakh crore, so now it is time to give it global purse. We hope that our suggestions will be considered in the discussions on Saturday.”
EPPC Rao, President of the Federation of Andhra Pradesh Small and Medium Industries Association, said that MSMEs are the backbone of India and it is most important to strengthen them. Rao said, “We have demanded technology upgrade and GST exercises for industry 4.0 items. The time has come to revive the issues of the MSMED Act. Bankers should follow RBI guidelines for revival of sick units.”
PLI demand for plastic and electronics products industry
Arvind Mehta, chairman of the All India Plastics Manufacturers Association, said, “We have demanded a technology upgrade fund for the sector, as is available for the textile sector. We have also requested GST discount on plastic recycling machines and reduction in GST on raw materials.” Mehta further said that his union has also demanded a PLI scheme for the region.
National Convenor Sudhir Jha of the All India Manufacturers Association said, “We have requested PLI for electricity electronics products as most of the things from industrial products to the manufacture of household appliances include electrical electronics products.” He insisted that domestic manufacturers could not expand until they are provided incentives related to the performance.