Budget 2019: Rs 350 cr allocated for interest subvention for MSMEs

FM also says country needs to make structural reforms to achieve $5 trillion economy in the next few years

An amount of Rs 350 crore has been allocated for 2 per cent interest subvention for all GST-registered MSMEs on fresh or incremental loans, said Finance Minister Nirmala Sitharaman on Friday while presenting Budget 2019.

The Finance Minister also said that India needs to make structural reforms to achieve $5 trillion economy in the next few years. 

Presenting the first Budget of the Modi government in its second term, she said the Indian economy, which stood at $1.85 trillion five years back, has reached $2.7 trillion now, and is within capacity to reach $5 trillion in the next few years.