Budget 2021 Expectations: ‘Tax exemption, interest reduction, power subsidy needed for rural MSMEs
Union Budget 2021-22 Expectations for MSMEs: In the upcoming budget, the government should offer a tax holiday of one-two years to the Micro, Small, and Medium Enterprises (MSMEs) affected by the ongoing Covid-19 pandemic crisis. Many MSMEs have been deeply impacted and they are on the verge of winding up, especially those who come under the sectors such as retail, travel, hospitality, textile,
On a case-to-case basis, the government should think on the lines of reduction of interest rates or giving tax benefits to the affected MSMEs. Retail, being the backbone of the country, has to be protected at any cost, no matter how much e-commerce has grown.