The Interim Budget was not spectacular, was populist and aimed to spur consumption that, in turn, would boost the private investment cycle in MSMEs.
Following three years of prudence and long-term measures, the government could not reach the fiscal deficit target in fiscal 2018 or 2019. For fiscal 2020 this time on, the Interim Budget has chalked out fiscal deficit at 3.4 per cent of GDP, which is 30 basis points (bps) more than envisaged under the Fiscal Responsibility and Budget Management (FRBM) Act.
What was delivered for the Indian MSME sector:
Reactions from the sector: