Budget 2022: Budget session will start from January 31, know what are the expectations of MSME sector from the budget

Budget 2022: There are 17 days left for the country’s budget to be presented and the Budget 2022 will be presented in Parliament on 1 February 2022 (1 February 2022). Finance Minister Nirmala Sitharaman will present the budget in front of the country in front of the country. While all the sectors are looking forward from the budget 2022-23, there are many demands of the MSME sector as well.

Make GST rates simple and easy
There is a demand of the MSME sector that the rates of GST should be made suitable for this sector and the tax rates for this sector should be reduced. Anyway, due to the circumstances of Corona in the last two years, this sector has been hit hard. The MSME sector has faced many problems like decline in production, loss of jobs, cut in revenue. Therefore, the biggest demand of the MSME (Micro, Small and Medium Enterprises) sector is to consider the rates of Goods and Services Tax (GST) once again.

What are the big demands of MSME sector
Lending rates for this sector should be further reduced
Make it easier for small businesses to do business
Licensing or audit rules should be eased for MSME sector

GST should be reduced for the manufacturing sector
There is a demand of the MSME sector that the rate of 18 percent on products for the manufacturing sector should be reduced to 12 percent. The provision of subsidy should be introduced in this budget for the products. In the last budget i.e. for the financial year 2021-22, an allocation of 15,700 crores was made for the MSME sector, which needs to be increased this year.

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