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CII Goa welcomes announcements made in union budget for MSMEs

Panaji: CII Goa State Council Chairman Blaise Costabir on Monday said that the announcement by Union Finance Minister Nirmala Sitharaman in her budget speech extended to MSMEs to the tune of Rs 15,700 crore which is double compared to the last year’s budget comes as a big relief to the MSMS’s.

In a statement, he said, ”It (the announcement) would boost the MSME development. CII Goa welcomes this particular announcement. With the manifold increase in digital payments, CII welcomes the 1500 cr scheme to promote digital mode of payments. This would further give an overall boost to digital transactions. CII also welcomes the announcement of legislation on Higher Education Commission in the coming financial year which would help enhance the overall education framework in the country.”

”Also the allocation of Rs 50,000 crore for National Research Foundation for over five years, which will strengthen the overall research ecosystem. The focus would be on identifying national priority thrust areas. CII commends the announcement of the one-year extension of the tax holiday on startups and capital gains exemption for startups. This will incentivize funding in the startup sector. The affordable housing projects can avail a tax holiday for one more year is also a welcome announcement by the government,” he said.


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