Budget 2022: FICCI Seeks Higher MGNREGA Outlay, Support For MSME Sector

Budget 2022: FICCI Seeks Higher MGNREGA Outlay, Support For MSME Sector

FICCI has sought higher outlay for MGNREGA and support for MSME sector in the budget

New Delhi:

FICCI vice president Subhrakant Panda on Monday said that Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) outlay should be increased and support to micro, small and medium enterprises (MSMEs) must be provided in the union budget.

“We are expecting a higher MGNREGA outlay and a similar scheme for the urban poor. It is very important to provide support to MSMEs, which have been affected by pandemic and are clearly the job-creating machine of the economy,” Mr Panda said.

Attention is needed for sectors like tourism and hospitality as they have been affected by the pandemic, he added.

“As far as recovery is concerned, it is important to put money in the hands of consumers. thereby leading to spending and demand generation. What we feel is that the government should maintain its focus on spending until such time that private sectors kick in,” he added.

“Finally, under the reforms agenda, there has been commendable work done towards ensuring ease of doing business. As far as reforms are concerned, measures like PLI schemes which have provided a fillip to manufacturing in the country, “Make in India” and “Atma Nirbhar Bharat” should continue,” he stated.

The FICCI vice president said that focus should also be on research and development (R&D) and innovation.

“Finally, I think green technology should get support because that is clearly the future and India has been a leader in this field,” he added.

“I have no doubt that there will measures to support economic recovery (in the budget), especially at a time when the third wave has impacted the economy,” he stated.

Source link