Bihar Industries Association hails incentives for MSMEs

June 14, 2024 by rawan239

TheBihar Industries Association(BIA) welcomed the announcements on tourism and non-conventional energy in the Union Budget.

BIA president Arun Agarwal said the Budget places strong emphasis on development. “This Budget has identified seven areas as the ‘Saptarshi’ model of development,” Agarwal said.

TheMSMEswould have access to collateral-free loans. Even if there is a limit of Rs2 crore

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for loan coverage, new MSMEs will gain access to the additional funds of Rs9,000 crores. He further said, “Green energy must be promoted. We believe this budgetary provision will help our state.”

Additionally, he said,Biharcan benefit from the country’s plan to construct 50 new . “According to the Economic Survey data, the Average annual national per capita income has increased to Rs1.97 lakh, while the average per capita income of Bihar is approximately Rs50,000. Since last year, this disparity has increased.