01-Feb-2026      11:45

FM announced enhanced focus and support to SMEs and textiles

Union Budget for FY27 proposes Rs 10,000 crore fund for SME growth to create champions among MSMEs. The FM proposes a three-pronged approach to help MSMEs grow - equity support via MSME growth fund. FM also proposes to top up self-reliant Indian Fund with Rs 2,000 crore.

FM announces textile labour incentive scheme and national handloom and handicrafts programme and setting up mega textile parks in challenge mode. Mega textile parks will be set up to enhance scale, efficiency and competitiveness in the sector.

FM proposes scheme to strengthen khadi and handicrafts textiles and said Mahatma Gandhi Gram Swaraj Initiative to be launched.

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