International Journal For Multidisciplinary Research

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Impact of Union Budget 2024–25 on MSMEs and Startups in India: A Policy Perspective

Author(s) Dr. Mukesh Chansoria, Dr. Sanjay Payasi, Dr. Deepak Tiwari
Country India
Abstract Micro, Small, and Medium Enterprises (MSMEs) and startups constitute the backbone of India’s innovation-driven economy. Union Budget 2024–25, with its focused fiscal interventions, has introduced key measures aimed at promoting ease of doing business, expanding credit access, incentivizing R&D, and fostering entrepreneurial growth. This research explores the comprehensive policy ecosystem shaped by the budget and its expected impact on financial inclusion, investment behavior, digital transformation, and market expansion within the MSME and startup sectors.
Using a policy-centric analytical framework, the study evaluates budgetary allocations, new schemes, tax rationalizations, and institutional support mechanisms from both fiscal and structural standpoints. Primary data was gathered from 180 stakeholders including startup founders, MSME owners, industry consultants, and financial experts. Secondary data included Union Budget documents, RBI reports, and publications from SIDBI and NITI Aayog.
Findings reveal that interventions such as the expansion of Credit Guarantee Fund, simplification of GST norms, tax rebates for bootstrapped startups, and integration of digital public infrastructure (DPI) are poised to catalyze entrepreneurship, particularly in Tier-2 and Tier-3 cities. However, concerns remain regarding fund disbursement timelines, policy awareness, and bureaucratic red tape.
The paper offers recommendations for refining policy design, enhancing scheme implementation, and fostering startup-MSME synergy through regulatory and financial convergence.
Published In Volume 7, Issue 3, May-June 2025
Published On 2025-06-05
DOI https://doi.org/10.36948/ijfmr.2025.v07i03.46613
Short DOI https://doi.org/g9pzrz
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