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Updated February 1st, 2023 at 13:59 IST

Sitharaman announces huge relief for COVID-hit MSMEs, 'Vishwakarma' package for artisans

Announcing relief to MSMEs affected during the pandemic, Sitharaman said voluntary settlement scheme will be introduced for settlement of contractual disputes.

Reported by: Mahima Joshi
Union Budget
Image: Unsplash | Image:self
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Finance Minister Nirmala Sitharaman in her fifth Budget speech announced a big relief for the MSME affected during the COVID-19 pandemic. She further informed that PM Vishwakarma Kaushal Samman-package of assistance will be provided to traditional artisans and craftspeople in order to help them improve the quality of their products. 

Elaborating on the government’s efforts in Parliament, the Finance Minister said , “PM Vishwa Karma Kaushal Samman-package of assistance for traditional artisans and craftspeople has been conceptualised, which will enable them to improve quality, scale and reach of their products, integrating with the MSME value chain.”

Sitharaman further announced that the government will also provide relief to the MSMEs affected during the pandemic. “Voluntary settlement scheme will be introduced for settlement of contractual disputes,” the Finance Minister added.

Sitharaman presents 1st Budget In 'Amrit Kaal’

In view of the 'Amrit Mahotsav' on the occasion of 75 years of India’s independence, FM Sitharaman presented the first Budget in the Amrit Kaal on Wednesday, February 1.  

"This is the first budget in Amrit Kaal, this budget hopes to build on the foundation laid in previous budget and the blueprint laid for India@100, we envision a prosperous and inclusive India in which the fruits of development reach all," she asserted.

7 priorities of ‘Amrit Kaal Budget’

Finance Minister Sitharaman further listed seven priorities of the government for its Amrit Kaal Budget. Here are the seven priorities of the central government led by Prime Minister Narendra Modi: 

  1. Inclusive development

  2. Reaching last mile

  3. Infrastructure and investment

  4. Unleashing potential

  5. Green growth

  6. Youth Power

  7. Financial Sector

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Published February 1st, 2023 at 12:46 IST

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