Jitan Ram Manjhi appreciated the Union Budget 2026-27; development-oriented, MSME to emerge as champions.
Photo Credit: The Suncity News.
Patna, February 1, 2026: Union Minister for Micro, Small and Medium Enterprises (MSME) Jitan Ram Manjhi on Sunday described the Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman, as a development-oriented budget aligned with the vision of a Developed India by 2047.
He expressed gratitude to Prime Minister Narendra Modi, stating that the budget reflects the government’s strong commitment to strengthening the MSME sector under the Prime Minister’s visionary leadership.
Jitan Ram Manjhi pointed out an increased budget for MSME:
Jitan Ram Manjhi said the budget allocation for the MSME sector has witnessed a significant increase, from Rs 23,168 crore in the financial year 2025-26 to Rs 24,566 crore in the financial year 2026-27.
“The MSME sector will once again emerge as a champion in this budget,” he said.
Highlighting key measures, the Union Minister said the budget places special focus on MSMEs with five major decisions taken to facilitate their growth.
Among these, the most important is the proposal to provide Rs 10,000 crore in equity support to small and medium enterprises through the establishment of a Growth Fund.
He also said a Rs 2,000 crore top-up has been provided to the existing Self-Reliant India (SRI) Fund micro-enterprises, calling it a testament to the strong performance of the scheme aimed at scaling up MSMEs.
Jitan Ram Manjhi welcomed the decision to make Trade Receivables Discounting System (TREDS) transactions the mandatory channel for procurement by Central Public Sector Enterprises (CPSEs), stating that it will enhance transparency.
He said the introduction of credit guarantees for TREDS transactions through CGTMSE will ensure faster payments to MSMEs.
Further integration of Government E-Market Space (GEMS) with TREDS will enable quicker payments in public procurement.
These reforms will help resolve the long-standing problem of delayed payment and provide MSMEs with much-needed working capital,” he said.
Skill development institutional support:
Jitan Ram Manjhi said professional institutions such as ICAI and ICMAI will be supported in developing modular courses to create corporate partners who can assist MSMEs in meeting procedural and compliance requirements.
Jitan Ram Manjhi also welcomed the decision to include Khadi under the Mahatma Gandhi Gram Swaraj Mission, along with announcements related to technical assistance, skill development, and integration into global value chains, stating that it will significantly boost the Khadi sector.
He added that the budget’s provisions for the textile sector are particularly encouraging, as the textile sector forms the largest segment of MSMEs and will directly benefit from these measures.
Also Read: FM Nirmala Sitharaman distributed Rs 1,021 crore loans to boost rural entrepreneurs in Madhubani.
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