Small and medium enterprises (SMEs) are a critical part of the Indian economy, accounting for over 30% of the country's GDP and providing employment opportunities to millions of people. However, SMEs often face challenges in accessing financing to support their growth and development. This is where Bajaj Finserv Business Loans come in. SMEs can access the funds they need to expand their businesses and achieve their goals.
What are small and medium enterprises (SMEs)?
Small and medium enterprises, commonly referred to as SMEs, form the backbone of our economy. These enterprises contribute significantly to GDP, employment, and innovation, making them a crucial component of sustainable economic development.
Announcement for SME growth in Union Budget 2026
The Union Budget 2026 outlines firm steps to support SME growth, with a strong focus on funding, easier compliance, and improved cash flow.
- Growth funding: A new Rs. 10,000 crore SME Growth Fund will be introduced, along with a Rs. 2,000 crore boost to the SRI Fund.
- Stronger liquidity: CPSEs will be required to use TReDS, linked with the GeM platform, to ensure faster payments and better cash flow for small suppliers.
- Sector support: Rs. 40,000 crore has been allocated for electronics manufacturing, and 200 existing industrial clusters will be modernised to strengthen the ‘Make in India’ initiative.
Together, these measures aim to reduce operational hurdles for SMEs and help them grow and compete more effectively.
