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With recognition of micro, small and medium enterprises (MSMEs) as major employment providers, Finance Minister Arun Jaitley is said to be considering a number of proposals to provide boost to MSME businesses in his upcoming See More Union Budget 2016-17.
These proposals include providing monetary incentives under Skill India to small-scale entrepreneurs to help them impart specific
training to unskilled labour and a flush of capital into the Technology Acquisition and Development Fund (TADF), meant to help business
to acquire the requisite machinery and technology to expand their operations.
Any such step would be in addition to the big-ticket initiatives already announced by the Narendra Modi government, including Startup
India, Mudra, and Standup India for women and scheduled caste/scheduled tribe (SC/ST) entrepreneurs.
At the launch of Startup India on January 16, Jaitley had already pledged to ease regulations to encourage start-up businesses and to lower long-term capital gains tax for new ventures in the upcoming Budget. Revenue Secretary Hasmukh Adhia had said the Union Budget 2016-17 will address the anomaly of venture capital funds in unlisted companies, attracting a long-term capital gains of 20 per cent compared with nil for investment in listed equities. Besides, a three-year tax holiday for entrepreneurs is also expected in the upcoming Budget.
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