Updated By: LatestGKGS Desk
Budget 2017: Government to encourage small and medium enterprises
Budget 2017 to motivate SMEs for food processing and manufacturing, come up with new scheme
In the upcoming Budget 2017, the government will encourage in the small and medium enterprises such as promotion of food processing and incentives to boost manufacturing.
The government is planning to provide 35% subsidy to the SMEs sector by introducing scheme in the name of property.
The government can also provide relief to the small and medium enterprises by providing exemption on VAT.
Under the plan, the government will establish mini food parks and several units of rice mill, spice and tea to be established
The parks will provide a single window clearance for the plan.
The Finance Ministry and the Ministry of Food Processing are working towards the plan.
The government is working towards the plan to encourage Make in India initiative of Narendra Modi’s governance.
The plan aims to make India among the major manufacturing centres in the World.
