Quote by Mr. Rajendra Kumar Setia, MD & CEO, SK Finance Limited on Union Budget 2025

“This marks a significant step towards strengthening India’s economic backbone, focusing on MSMEs and the middle class while maintaining fiscal prudence. The revision of MSME classification is going to be a major game changer for the manufacturing sector. With over 1 crore MSMEs already driving 45% of India’s exports, the enhanced investment and turnover limits will empower these businesses to scale up operations and embrace technological innovation.

Enhancement of the credit guarantee cover for MSMEs to Rs 10 crore; term loans for exporter MSMEs to Rs 20 crore and start-ups to Rs 20 crore, will provide a big fillip to the industry. These measures will enable NBFCs in scaling up their operations, and will drive inclusive growth. The announcement of customized credit cards with a Rs. 5 lakh limit for micro-enterprises will increase liquidity and lead to establishment of new entrepreneurs. All in all, Budget 2025 will have a positive impact on India’s economic growth trajectory, with MSMEs driving growth,” says Rajendra Kumar Setia, MD & CEO, SK Finance Limited.