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PHDCCI seeks incentives in Budget 2026-27 to push growth of MSME sector

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New Delhi, Jan 7: Business chamber PHDCCI has, as part of its wishlist for Union Budget 2026–27, sought easier access to finance at lower interest rates and a reduction in the regulatory burden, to cut costs for the MSME sector, which is driving growth and employment generation in the economy.

Micro, Medium and Small Enterprises (MSMEs) hold the key to catapulting India’s economy to a 10 per cent growth path, according to a statement issued by the PHD Chamber of Commerce and Industry (PHDCCI) on Wednesday.

The MSME sector’s contribution to manufacturing, exports and employment generation in the country has shown an increasing trend. In 2025, the sector contributed as much as 30 per cent to manufacturing output and has emerged as the second-largest employer next only to agriculture, it added.

More than 7.30 crore small and micro enterprises have registered on the Udyam Registration Portal and Udyam Assist Platform (UAP), from July 2020 to December 2025, bringing them into the organised sector ambit. This trend holds the key to initiating targeted policies and schemes in a structured way, the statement said.

“Put together, our Union Budget 2026–27 proposals present a comprehensive policy package aimed at easy access to finance for growth, reducing regulatory burdens, and strengthening much-needed institutional support for MSMEs,” PHDCCI CEO & Secretary General, Ranjeet Mehta, said.

The business chamber has sought reintroduction of an interest subvention scheme for MSMEs with a 2 per cent interest subsidy on new and incremental loans from banks and NBFCs to bring down the cost of credit for the sector. This is expected to enhance global competitiveness amid the current geopolitical volatility.

The chamber has also stated that the costs of projects have gone up since the Pradhan Mantri MUDRA Yojana started in 2015; therefore, loan limits should be revised upwards under the scheme.

It further stated that in order to cushion MSME exporters amid rising global tariff pressures, the Interest Equalisation Scheme on pre- and post-shipment export credit should be reintroduced. This includes extending eligibility to service exporters, alongside manufacturing exporters, to broaden the export support basket for improving price competitiveness in global markets.

The business chamber also observed that to grow at a faster rate, MSMEs require cheaper financing options. To do so, money from the Fund of Funds in the form of equity should be infused, especially for startups and will cater to seed capital requirements for these startups.

The PHDCCI has also pointed out that under the MSME Development Act, 2006, only small businesses can approach Facilitation Councils to get help with payments that are late, and this help should also be available to medium-sized businesses that need this protection too.

In order to fast-track the adoption of modern, green, and eco-friendly technologies, the Credit-Linked Capital Subsidy Scheme should be enhanced with an investment ceiling of Rs 2 crore, up from the limit of Rs 1 crore, as it no longer reflects current technology costs.

Besides, the chamber has sought amendments to Section 44AB of the Income Tax Act to exempt all micro enterprises with turnover up to Rs 10 crore from mandatory tax audits, irrespective of profit margins. This is expected to reduce compliance costs, estimated at Rs 75,000–Rs 1.5 lakh annually.

Business

Customs duty on gold, silver, platinum tops Rs 10,460 crore since duty hike

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New Delhi : The government has collected Rs 10,463 crore in customs duty from imports of gold, silver and platinum between May 13 and August 2 following the increase in import duties on the precious metals, Parliament was informed on Monday.

In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said customs duty collections during the period stood at Rs 10,040 crore on gold, Rs 328 crore on silver and Rs 95 crore on platinum.

The combined customs duty collection from the three precious metals thus amounted to Rs 10,463 crore during the period.

With effect from May 13, the government had increased the import duty on gold and silver to 15 per cent from 6 per cent, while the duty on platinum was raised to 15.4 per cent from 6.4 per cent.

Moreover, consequential changes were also made to duties on related items, including gold and silver dore, coins and findings.

Chaudhary said the government had taken the decision to curb discretionary imports and prioritise foreign exchange for essential imports such as crude oil, fertilisers, industrial raw materials and capital goods.

The duty hike came against the backdrop of rising global uncertainties, including the conflict in West Asia and the effective blockade of the Strait of Hormuz, which had pushed up prices of crude oil as well as food and fertiliser imports.

The minister also informed the House that enforcement agencies seized 161 kg of smuggled gold and arrested 116 persons between May 13 and June 30.

India is the world’s second-largest consumer of gold after China with imports largely driven by demand from the jewellery sector.

Gold imports account for a significant outflow of foreign exchange and are closely monitored by policymakers from a balance-of-payments perspective.

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TRAI mandates 1601-series numbers for service calls from utilities, logistics firms

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New Delhi : The Telecom Regulatory Authority of India (TRAI) on Monday directed telecom operators to begin onboarding entities from select non-financial sectors onto the new 1601-series numbering framework for transactional and service voice calls extending a system already in use by the banking, financial services and insurance (BFSI) sector.

After this decision, consumers can identify genuine service and transactional calls and curb impersonation and fraud carried out through regular 10-digit mobile numbers.

In addition, TRAI said it has issued directions on the use of the 1601-series numbers for entities in sectors other than BFSI and government organisations which currently use the 1600-series numbering framework.

The authority also noted that the widespread adoption of 1600-series numbers by BFSI entities has provided valuable operational experience for expanding the trusted numbering framework to other sectors.

Under the first phase of implementation, the 1601-series will be allotted to entities in the utilities sector, including electricity distribution companies, water utilities, city gas distribution companies, LPG distributors and other utility service providers.

The logistics and courier sector has also been included in Phase-I, covering courier companies, express logistics firms, parcel delivery service providers as well as freight and logistics operators involved in consignments delivery.

TRAI said the Department of Telecommunications (DoT) has allocated the 1601-series for such calls and telecom service providers (TSPs) have been directed to complete migration and onboarding of eligible entities covered under Phase-I within 90 days from the date of the order.

The regulator further noted that 1601-series numbers would be allocated directly to eligible entities rather than intermediaries or aggregators following verification by telecom operators.

“The distinct numbering identity will enable the consumers to easily identify legitimate service and transactional calls, thereby strengthening trust in such voice-based communications,” the regulator said.

Additionally, TRAI clarified that the 1601-series numbers cannot be used for promotional voice calls by any entity.

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Centre’s expenditure on 1,847 big infra projects touches Rs 21.97 lakh crore

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New Delhi: The expenditure on India’s 1,847 major infrastructure projects, currently being implemented by the Centre, has reached Rs 21.97 lakh crore (as of June 2026), which represents over 54 per cent of the total investment of Rs 40.54 lakh crore earmarked for these mega projects, reflecting steady progress in the pace of work, according to a factsheet issued by the government on Monday.

Many projects have reached advanced stages of completion, with around 709 projects exceeding 80 per cent physical progress, while another 337 projects have passed 80 per cent of financial completion, the factsheet states.

The transport and logistics sector leads with the 1,341 projects worth Rs 22.32 lakh crore, reflecting the focus on connectivity.

These projects are playing a crucial role in pushing up the country’s economic growth rate and creating more jobs.

Efficient monitoring of infrastructure projects is being carried out through PAIMANA (Project Assessment, Infrastructure Monitoring and Analytics for Nation-Building) digital platform. Developed by the Ministry of Statistics and Programme Implementation (MoSPI), PAIMANA is used for monitoring ongoing Central Sector infrastructure projects costing Rs 150 crore or more.

In addition to strengthening project monitoring, PAIMANA has expanded its role to support infrastructure performance monitoring through a dedicated Performance Monitoring Dashboard which was launched on April 16, 2026.

The Performance Monitoring Dashboard brings together performance indicators across key infrastructure sectors in a unified digital platform. The indicators are compiled from official data provided by the concerned Ministries and Departments and are updated periodically based on the latest available information.

A detailed indicator framework spans six infrastructure sub-sectors. These are Power, Civil Aviation, Telecommunications, Railways, Roads, and Ports, Shipping and Waterways.

The Performance Monitoring Dashboard has now been expanded to 165 indicators. This expansion includes the addition of 54 new indicators, significantly enhancing the comprehensiveness of infrastructure performance monitoring.

A single digital interface allows monitoring of performance sector by sector. It offers interactive visualisation and time-series analysis for policymakers, researchers and stakeholders.

A centralised dashboard delivers one cross-sector view of infrastructure sectors. This capability deepens inter-sectoral analysis.

The current framework gauges sectoral performance through growth rates. It reviews year-on-year, month-on-month and cumulative growth, targets and capacity utilisation in chosen sectors, the official statement added.

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