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UNION BUDGET 2011: RS 5,000 CRORE TO SIDBI INSUFFICIENT, A RAISE OF JUST RS 1,000 CR


Finance minister Pranab Mukherjee has allocated Rs 5,000 cr to Small Industries Development Bank of India or Sidbi, drawing little cheer from the small and medium enterprises.

The outlay in the previous budget for the SIDBI was Rs 4,000 crore. The SME sector has termed the outlay as insufficient, but welcomed the progress on Goods and Service Tax with the states.

President of Federation of Association of Small Industries of India said the allocation to small enterprises is insufficient, "We appreciate the outlay of Rs 5,000 crore to SIDBI, but it is grossly insufficient. Outlay of Rs 7,000 crore is needed."

SOURCE: http://articles.economictimes.indiatimes.com/2011-02-28/news/28642395_1_sidbi-industries-development-bank-sme-units

Posted by C.B.O.A., A.P.

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