From air purifiers, steam and vacuum cleaners, floor polishers to electric mops, TTK Prestige has made daring forays into the areas outside the kitchen, starting with its clean home range of products in 2016.

Indian MSMEs are in a position to build a complete satellite and launch it, claimed Subba Rao Pavuluri, chairman and managing director of Ananth Technologies Ltd.

Finance Minister Arun Jaitley on Thursday proposed to lower corporate tax rate to 25 per cent for businesses with turnover up to Rs 250 crore.

Much on expected lines, the government in Budget 2018-19 has continued with its thrust for Affordable Housing and Housing for All scheme.

"NBFCs can be a very powerful vehicle for delivering loans under MUDRA. Refinancing policy and eligibility criteria set by MUDRA will be reviewed for better refinancing of NBFCs," said Arun Jaitley.

"Overall it is a balanced budget. Several measures have been announced which will benefit the MSME sector and since 99% of the textile industry fall under the MSME sector this is good news," said Sanjay Jain.

Unveiling the last full-year budget of the current BJP-led government in Parliament, Jaitley said online loan sanctioning facilities for MSMEs will be revamped for prompt decision-making by banks.

The Finance Minster asserted that demonetisation and the introduction of GST is enabling the government to make policies which will benefit the micro and small medium enterprises.

This move will help digital lending entities working in the MSME space like Capital Float, Lendingkart, Rubique and others to expand their businesses and manage to reach out to a larger section of the country.

FDI in retail continues to be a bone of contention in certain ways. While FDI in multi-brand retail has been seen in general as a welcome step, there are issues against FDI in single brand retail on the other hand.

The upcoming budget is a great opportunity to unshackle the MSMEs, and help them bounce back from what has been a year of massive changes in the business environment for them.

The figure in the Survey is a further validation of the fact that SMEs in the country are credit starved.

The Modi Government has sets its goals on the idea of - 'Doubling Farmers Income in 5 years.' The big question is if that can be done without coming up with new ideas that can unleash the potential that Indian agriculture claims to possess but has never delivered.

Representatives of textile industry have come forward to register their "disappointment" with the government for ignoring the calls of an industry which has been "one of the most impacted by GST".

When it comes to disruptive technologies that will drive businesses in the coming years, Artificial Intelligence (AI) is touted as the most promising and Indian enterprises across the spectrum began embracing it to enhance real-time user experiences.

Despite the Composition Scheme providing many benefits to small taxpayers, many decided to opt out of it and be regular fliers under GST. The Economic Survey spells out the reason behind this unexpected move.

Contributing 32% to the country's Gross Value Added (GVA), MSMEs also pave the way for industrialisation in rural and backward areas.

"The major problem which is faced by the sector is on the GST front because even if you talk about a very efficient refund system, the refund entails a time lag because you will be importing or procuring the product, producing a product and exporting it, and the refund will float to you," says Ajay Sahai, DG.

Despite stiff competition from Taj Mahal, Tata Tea, Brooke Bond Red Label and Taaza, Society Tea has maintained its leadership in Maharashtra with a 40% market share.

Most economies, particularly those of developing countries like India, march on the shoulders of small businesses, especially those involved in providing services. The numbers speak for themselves.