One of the most awaited announcements of the year - the Union Budget - essentially lays the economic foundation of the country. This year, the Budget, presented on February 1 by Finance Minister Nirmala Sitharaman, hoped to achieve its goal of inclusive development, productivity enhancement and investment. For MSMEs and Industry, the targets of Union Budget 2022-23 are:
-
Udyam, e-shram, NCS and ASEEM portals to be interlinked
-
130 lakh MSMEs provided additional credit under Emergency Credit Linked Guarantee Scheme (ECLGS)
-
ECLGS to be extended up to March 2023
-
Guarantee cover under ECLGS to be expanded by ₹50,000 crore to total cover of ₹5 lakh crore
-
2 lakh crore additional credit for Micro and Small Enterprises to be facilitated under the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE)
-
Raising and Accelerating MSME performance (RAMP) programme with outlay of ₹6,000 crore to be rolled out.
-Vinod Kumar Gupta, Managing Director, Dollar Industries Limited
The government has once again ensured trust-based governance to build Scheme (ECLGS) till March 2023. We welcome the move of extending the ECLGS scheme which will be beneficial for MSMEs. Significantly, several textile and hosiery players belong to the MSME sector. On the other hand, the credit and fiscal support of ₹5 lakh crore will give a huge boost to this sector, encouraging new businesses to come to the fore. Besides, the announcement will certainly generate more than 10 lakh employment opportunities in a short span of time.
Esta historia es de la edición February 2022 de Business Of Fashion.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 2022 de Business Of Fashion.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Being Human launches 100th India store in Jaipur
Being Human, Bei the iconic a clothing line with philanthropic heart, has opened its 100th store in Jaipur.
Reliance Retail opens 73rd Avantra by Trends store in India
Reliance Retail's ethnicwear brand Avantra by Trends has opened its 73rd store in India in Hyderabad.
Cosset Clothing celebrates 3 years with Desk to Dusk collection
Cosset Clothing marks its third anniversary with the launch of the Spring-Summer 2024 collection, 'Desk to Dusk, a testament to its commitment to sustainable fashion.
Blackberrys launches TechPro collection 2024
Menswear brand Blackberrys Mensw Lhas introduced its groundbreaking TechPro Collection '24 across its stores nationwide.
The Kaftan Company launches men's lounge wear collection
The The Kaftan Company (TKC), renowned for its innovative loungewear, has launched its latest collection, the Twilight men's loungewear collection, marking a significant milestone as the first-ever range of kaftans designed exclusively for men.
MENSWEAR MARKET IN INDIA: Challenges & Opportunities for New-Age Brands in an Overcrowded Segment
There has been a significant change in the external environment in the last 15 years, which has directly led to changes in not only what a male consumer wears but also what he chooses to wear and how...
SUSTAINABLE FABRICS IN MEN'S FASHION: A CLOSER LOOK
Polyethylene terephthalate (PET) bottles, once destined for eternity in waste piles, have found a new purpose through recycling, emerging as recycled PET, or rPET...
UNI STYLE IMAGE: Championing Circular Fashion and Sustainability
Uni Style Image (USI), founded in 1990, is a global leader in sustainable designs. Renowned for its commitment to quality and environmental stewardship, USI stands among the top 10 polo T-shirt brands worldwide...
RAYMOND 'MADE TO MEASURE'
Bridging Bespoke Luxury with Ready-to-Wear Convenience
SNITCH From Fledgling D2C Brand to Pioneering Innovator in Fast Fashion
An in-depth analysis of Snitch's transformation from a nascent brand to a leading force in the young and innovative menswear segment in the Indian fast fashion domain...