While the budget reflects a commendable focus on employment, skilling, and women, it is important to recognise that many of the policies will need a robust implementation. The increase in Mudra loan limits from ₹10 lakh to ₹20 lakh is a positive step for entrepreneurs, yet the on-ground implementation of the government’s policy directive needs stronger adoption at the grassroots level.
The government’s commitment to enhancing women’s participation in the workforce through initiatives like working women’s hostels and creches is a welcome development. The allocation of over ₹3 lakh crore for schemes benefitting women and girls as well as setting up of women-specific skilling programmes to boost women’s participation in the workforce, signals a significant commitment to women-led development.
However, there remains ample room for improvement in the execution and scope of these policies. The introduction of a new assessment model for MSME credit is a step in the right direction, allowing for a more nuanced understanding of credit eligibility that extends beyond traditional metrics. Several fintechs and non-traditional financial institutions have been working on this front for a while now, so a collaboration between government and the fintech ecosystem to facilitate this would be a great post-budget action item.
In sum, while there are positive elements in this budget, there is still room for improvement in terms of the implementation and outcome of these initiatives. The journey toward comprehensive support for all sectors, particularly for women and MSMEs, is ongoing, and we look forward to seeing how these initiatives evolve in the future.
