Union budget hailed for promoting MSMEs

Speakers at a discussion on the Union Budget-2026, conducted by the Public Relations Society of India (PRSI), Tirupati chapter, on Monday (February 2, 2026), lauded the Union government’s support for the growth of the Micro, Small, and Medium Enterprises (MSME) sector in the budget proposal.

Noted chartered accountant V. Bhagyateja called the establishment of a ₹10,000 crore Growth Fund to promote MSMEs and the plan to set up institutions under the ‘Corporate Mitras’ initiative to develop professionals to assist enterprises, as path-breaking steps.

Measures have been taken through the Trade Receivables Electronic Discounting System (TreDS) to provide financial support to MSMEs, thus enabling faster liquidity against invoices, he said.

While drawing the attention to tax-related provisions, Mr. Bhagyateja said that cash deposits exceeding ₹10 lakh in savings bank account could attract tax scrutiny and also advised the individuals to use their credit cards only up to the amounts within their declared income to avoid future complications.

“Similarly, the rental income up to ₹12 lakh per annum is now exempt from TDS and tax relief has been extended on tour packages to promote tourism,” he added.

SVU professors G. Anjan Babu (Computer Science) and K. Jayachandra Reddy (Commerce) spoke on the substantial fund allocation to chips manufacturing, software and hardware, in a bid to reduce dependence on foreign countries and to promote self-reliance.

PRSI Tirupati Chapter Chairman G.S. Prasad presided while Secretary Dudyala Chandramohan proposed a vote of thanks. National council member K. Srinivasa Rao, executive member C. Swarajyalakshmi and writer R.C.K. Raju took part.