‘Rs 350 cr allocated for GST-registered MSMEs on loans’: FM

Finance minister Nirmala Sitharaman presented the Union Budget 2019. In her maiden speech she said, “Rs 350 cr allocated for 2% interest subvention for all GST-registered MSMEs on fresh or incremental loans.” She also said that the government will create a payment platform for MSMEs. The finance minister also announced pension benefit for traders and shopkeepers with annual turnover less than Rs 1.5 crore.