After 'smart recovery' from Covid, what do MSMEs expect from Budget 2023
Hindustan TimesThe micro, small and medium enterprises sector has posted smart recovery from pandemic-induced shock, with the goods and services tax paid by the sector in fiscal year 2022 exceeding the pre-pandemic level in FY20, the Economic Survey tabled in parliament on Tuesday noted. The Economic survey highlighted Covid had a significant negative impact on the sector’s performance. Economic survey highlighted Covid had a significant negative impact on the sector’s performance. “While the contribution of the MSME sector to overall Gross value added rose from 29.3 per cent in FY18 to 30.5 per cent in FY20, the economic impact of the pandemic caused the sector’s share to fall to 26.8 per cent in FY21,” it said adding that MSME contribution to the manufacturing sector’s GVA also marginally fell to 36.0 per cent in FY21.