The Credit Guarantee Trust will enhance employment opportunities and enable job creation

Ramanujam Komanduri, Country Manager, India, Pure Storage.

“The Union Budget 2022 expectedly turned out to be a growth-oriented budget. The government is focused on reviving the economy through various programs across industries and especially MSMEs, which were hardest hit by the pandemic. The rollout of the Raising and Accelerating MSME Performance program will help address the challenges faced by the sector, through injection of liquidity and ease of compliance norms. The Credit Guarantee Trust for MSME will not only enable them to revive their businesses with additional funds but also enhance employment opportunities and enable job creation. There is also a strong push for digital transformation in the education sector by announcing Digital University and high-quality e-content across regional languages for the students to skill, upskill and reskill the youth. Addressing the structural challenges in the education landscape, the government has focused rightly on upskilling and digital learning. Another impactful announcement is the confirmation of the auction of 5G spectrums this year which will improve accessibility, speed, and availability of the internet across India and particularly in rural areas. This budget’s emphasis on Digital India will further attract investment and put India firmly on the global innovation map.