Panipat textile leaders see bright future with MSME-friendly Budget

The Union Budget, presented by Finance Minister Nirmala Sitharaman, has received a positive response from the textile and MSME industries in Panipat, with business leaders calling it a progressive and growth-oriented Budget.

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Industry stakeholders particularly welcomed the increased financial support for the MSME sector and startups. The loan limit for MSMEs has been raised from Rs 5 crore to Rs 10 crore, while new startups can now avail loans up to Rs 20 crore. This move is expected to boost small and medium businesses, including Panipat’s textile and manufacturing sectors.

Vinod Dhamija, exporter and president of the Haryana Chamber of Commerce and Industries, Panipat Chapter, praised the Budget, stating, "The overall Budget is progressive for industries, especially MSMEs. A good Budget has been allocated to improve the MSME sector. The increase in the loan limit for MSMEs and startups will directly impact business growth. Apart from this, the increase in the income tax slab limit and relaxation for senior citizens are also welcome steps."

Business owners in Panipat, a key textile hub, believe that these provisions will ease financial constraints, encourage entrepreneurship and stimulate industrial growth.