Budget 2025: GST concessions critical for MSME growth

As per the National Sample Survey of 2015-16, the total number of MSMEs in India was 6.33 crore, predominantly comprising small and micro units.

- R P GUPTA

Among these, the share of manufacturing, trade, and other services was approximately 31 per cent, 36 per cent, and 33 per cent, respectively. Since the introduction of GST in 2017, the growth of MSMEs has been sluggish and nearly negligible. In the developmental phase of any nation, the MSME sector plays a pivotal role in generating employment opportunities. However, these enterprises face high production costs and marketing challenges due to their weak brand image. Therefore, they require robust policy and fiscal support to ensure healthy growth.