New Delhi:Hailing Union Budget 2019, Union Minister for MSME & Road Transport & Highway Nitin Gadkari pledged to generate four crore more jobs in the MSME sector in the next five years which currently provides employment to 11 crore people.
While speaking to media at his residence, the Union Minister said, "In this budget, the Finance Minister has backed our small and medium scale industries. The MSME sector contributes 29% of our GDP and we are planning to take it to 50%."
For 2019-20 financial year the Ministry of MSME has been allocated Rs 7,011 crore. This is an all-time high allocation for the ministry as compared to last year. In 2018-2019, the Ministry was allocated 6552 crores.
Addressing a query on the hike in diesel and petrol prices by Rs 1, the Union Minister for Road Transport and Highway claimed that budget generated from it will be used in infrastructure projects.
He further asserted, "I have always emphasised on cost-effective and eco-friendly transport system. I am happy that the Finance Minister has only imposed only 5% duty on electric vehicles. It will enhance electric vehicle manufacturing in our country."
He even claimed that he is hopeful that India will become the biggest automobile manufacturer of the country one day.