By Mr. Ravi Saxena, CEO and Founder of Wonderchef.
The Indian MSME sector is at a critical transition. For this Union Budget, the focus must shift from subsidies to driving a fundamental behavioral change of moving from khata culture to institutional transparency. Many microenterprises remain informal due to ‘compliance fear.’ To bridge this, the government should adopt a ‘trust-but-verify’ model that rewards transparency with instant, collateral-free credit through integrated digital platforms.
I expect the Finance Minister to deal with structural problems, like making sure that Section 43B(h) is strictly enforced so that big companies pay their MSME debts within 45 days. Furthermore, aligning tax audit exemptions and linking Udyam registration to preferential tariffs will transform formalization into a ladder for growth rather than a weight of compliance.
Finally, we must address the pushbacks regarding the immediate costs of professional talent and digital systems. This budget should focus on compliance enablement and simplifying regulations and decriminalizing minor procedural lapses. Our goal should be to transform the traditional hustle of the Indian entrepreneur into a structured, scalable enterprise that forms the backbone of a Viksit Bharat.
