Promotion of MSME Continues to be one of the Thrust Area of the Government

Union Finance Minster presented Interim Union Budget 2014-15 in the Parliament on 17.2.2014.

In his budget speech, while mentioning about state of the economy, the Finance Minister mentioned, inter-alia, that several measures have been taken to promote micro, small and medium enterprises including notifying a public procurement policy, establishing technology centres and common facility centres, and launching the Khadi mark.

The Finance Minister also mentioned about the major achievements of the Government in the current financial year, while discussing Report Card of 2013-14. The Finance Minister stated that Ministry of MSME will create the ‘India Inclusive Innovation Fund’ to promote grassroot innovations with social returns to support enterprises in the MSME sector. The Finance Minister proposed to make an initial contribution of Rs. 100 crore to the corpus of the Fund.