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Tag: budget impact

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UGRO Capital – Report – Analysis of Budget Impact on MSME’s

Aug 14, 2024 by Mansi 0 Comments #budget impact, #MSME, #Ugro Capital

MSMEs at the Centerstage of Budget 2024: The government has recognized the importance of MSMEs in addressing unemployment and rural distress. The budget for 2024-25 has given special attention to MSMEs, particularly labor-intensive manufacturing, through financing, regulatory changes, and technology support.

Improved Access to Credit: A new credit guarantee scheme has been introduced to facilitate term loans for MSMEs to purchase machinery and equipment without requiring collateral or third-party guarantees. This scheme supports MSMEs, especially those in the manufacturing sector, to access credit more easily.

Continued Bank Credit During Stress Periods: A new mechanism has been proposed to ensure MSMEs continue to receive bank credit during stress periods, even if they are in the special mention account (SMA) stage.

Enhanced Mudra Loan Limits: The limit for Mudra loans has been increased from ₹10 lakh to ₹20 lakh for entrepreneurs who have successfully repaid previous loans under the ‘Tarun’ category.

Improved Credit Assessment Models: Public sector banks are set to develop new credit assessment models based on the digital footprints of MSMEs, rather than relying solely on asset or turnover criteria.

Expansion of SIDBI Branches: The Small Industries Development Bank of India (SIDBI) will open 24 new branches this year to serve major MSME clusters.

Reduced Compliance Burden: The turnover threshold for mandatory onboarding on the Trade Receivables Discounting System (TReDS) platform has been reduced from ₹500 crore to ₹250 crore.

Energy Audit and Sustainability Initiatives: The budget has allocated financial support for conducting energy audits in 60 MSME clusters. This initiative aims to help clusters shift to cleaner energy sources.

Support for Food Processing and Export Sectors: Provisions have been made for setting up 50 multi-product food irradiation units and 100 quality testing labs with NABL accreditation, as well as the creation of e-commerce export hubs in public-private-partnership (PPP) mode.

These strategic measures are aimed at fostering growth and enhancing the competitiveness of MSMEs in India. The contribution of MSMEs to all-India manufacturing output in FY 22 was 35.4% and the share of MSME-made products in exports in FY 24 was 45.7%, this is only expected to grow. By 2028, India’s MSME sector is projected to contribute US$ 1 trillion to the nation’s overall exports, making up about 35% of the GDP.

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How does the budget impact the gifting procedures?

Apr 10, 2024 by Gayathri Pariti 0 Comments #budget impact, #company's financial health, #gifting procedures, #Mr. Sagar Bhamrah

SAGAR SIR MERCH MATTERS pic

Dealing with the budget limit is critical in corporate gifting to ensure a thoughtful and meaningful gift for the employee without breaking the bank. A well-managed budget enables gift-givers to make decisions that resonate with recipients while remaining within financial constraints. Budgetary factors are critical in deciding the scope and character of corporate gifting. The budget sets the tone for the selection process, whether it’s about celebrating milestones, increasing employee engagement, or sustaining client relationships. A larger budget allows for more lavish options, whilst a smaller one necessitates more careful selection.

 Securing funding for employee presents is dependent on a variety of factors, including the company’s financial health, organizational culture, and leadership goals. Economic concerns may provide issues, but a strong culture of appreciation and leadership support can help with budget allocations.

 The availability of a varied range of gift options simplifies the selecting process, providing numerous possibilities to fit various events and budgets. From personalized goods to selected hampers, there are numerous options available to meet a variety of budgets. While financial constraints may require exploring deals and reductions, corporate giving services eliminate the need to sacrifice quality or consideration. These services provide bespoke solutions within certain budgets, resulting in a flawless and stress-free gifting experience.

 Choosing affordable gifts fosters inclusivity and allows everyone, regardless of financial ituation, to share in the joy of giving and receiving. Choosing sincerity and thoughtfulness over luxury highlights the actual spirit of corporate gifts.

 According to Mr. Sagar Bhamrah, Founder of Merch Matters- An effective budget management is paramount in navigating the intricacies of corporate gifting. By aligning financial resources with organizational objectives and recipient preferences, gift-givers can foster meaningful connections and enhance overall engagement within the corporate sphere. We also help companies to think better and get easy solutions.