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Budget 2022: Women Entrepreneurs in Various Sectors Expect Govt To Grant Tax Benefits, Interest-Free Loans

Budget 2022 Expectations: The female entrepreneurs in the micro, small and medium enterprise (MSME) or small business segment are also expecting a handful of sops from Sitharaman in the Budget 2022.

Updated: January 31, 2022 5:39 PM IST

By Business Desk | Edited by Manmath Nayak

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Budget 2022 Expectations: As Union Finance Minister Nirmala Sitharaman is all set to present the Budget 2022 on February 1, women entrepreneurs in various sectors of the country have great expectations from the Centre in terms of credit support and Covid incentive for women-led businesses. The female entrepreneurs in the micro, small and medium enterprise (MSME) or small business segment are also expecting a handful of sops from Sitharaman in the Budget 2022.

In the meantime, some other female entrepreneurs expect the Central government to grant extra measures to support them. They want the Centre to have provisions for them with extra tax benefits, subsidies and interest-free loans.

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Speaking to, Meeta Nagpal, Founder of Musical Dreams, said that setting-up incubation centers for women-led-businesses would be a significant step in promoting women entrepreneurs and encourage more women to enter business. She added that the budget should have measures for skill development for women and parity in salaries for female workforce.

The budget 2022 is coming at point when the economy has started showing signs of recovery. After a decline in the female participation in business, thanks to the efforts of the current government, it started increasing gradually,” she said.

She added that although the pandemic has impacted almost every sector of the economy, the female workforce of much more severely affected.

“In the upcoming budget, female workforce, especially female entrepreneurs are expecting the Centre to give some extra measures to support them. Women entrepreneurs are expecting the budget to have provisions of with extra tax benefits, subsidies and interest free loans,” she added.

Sharing about her expectations from Budget 2022, Shilpa Khanna Thakkar, CEO of Chicnutrix, told CNBCTV18 there is still a gap of financial support and literacy that becomes an obstacle and the efforts need to be taken to support and mentor these entrepreneurs.

“The investors and government bodies should allocate funding that supports sustainable businesses. With health and wellness taking centerstage, there should be a relaxation of taxes on essential wellness products,” she added.

Sanjana Govindan, vice president, women entrepreneurship, GAME, told CNBCTV18 that as the SMEs still rely on informal financing, there is a need to incentivize financial institutions to think about other methods to credit check and solve the issue of collateral that plagues millions of asset-poor women entrepreneurs.

“Despite leading the world in graduating women in STEM, the number of new women founders in the manufacturing or high-value sectors is abysmally low. A budget that recognises this, and takes a gendered approach to financing this type of entrepreneurs will be a huge boost to the economy,” she added.

All about Budget 2022

FM Sitharaman will present Budget 2022 at 11 AM on February 1. However, a day before, on January 31, President Ramnath Kovind will address the joint session of Parliament. In view of COVID-19 guidelines, the Lok Sabha and the Rajya Sabha will be functioning in staggered timings. On January 31 and February 1, the timings will be from 11 AM for both the houses.

As per the updates the first part of the budget session of Parliament will be held from January 31 to February 11 and the second part of the budget session will take place March 14 to April 8. And the Economic Survey will be tabled at noon on January 31.

It must be noted that the Budget 2022 will be available on the mobile App after it is presented in the Parliament and the App will provide easy and quick access to Budget information to all stakeholders.

Budget 2022: Where and how to watch

The Budget 2022 speech of FM Sitharaman will be aired live on the official Parliament channel, Sansad TV and national broadcaster Doordarshan. The general public can watch the live address on the Sansad TV YouTube channel. Moreover, the Budget 2022 will be covered live by national as well as private news channels across the country.

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