Saturday, March 5, 2022

State Government Should Provide Soft Loans, Interest Subsidy Schemes For MSMEs

By Nishank Kariappa

On March 4, the focus will be on Chief Minister Basavaraj Bommai as he will present the state budget. Inspite of the severe economic challenges caused by the Covid-19 pandemic for the past 2 years, revenue collection has improved allowing for some big ticket announcements.

Improvement of Medium, Small and Micro Enterprises (MSMEs) plays an important part to  reduce the economic stress. The government should provide soft loans and interest subsidy scheme for MSMEs and other affected industries in the budget this year

The educational sector hopes for funding in technology in schools and education systems, considering challenges posed in online education. The government must take steps for bigger funding on education, push greater digitization and reducing the gap between rural and urban education. The increased funds will ensure better quality education in government schools which educate a majority of children.

The education sector is facing enormous challenges due to the pandemic and the budget is going to play a important role in uplifting the education system. The government must issue funds for upgrading technology in educational institutions in rural areas so the education of students studying in these institutions are well equipped to face the pandemic challenges.

(The author is General Manager, Vogue Institute of Art and Design, Bengaluru)

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