The 2024 Union Budget, presented by Finance Minister Nirmala Sitharaman, has introduced several measures to support MSMEs, including a new credit guarantee scheme and increased limits for Mudra loans. The budget maintains a focus on financing, regulatory changes, and technology support to help MSMEs grow and compete globally. Public sector banks will develop in-house capabilities for credit assessment, and new SIDBI branches will be opened to serve MSME clusters. Industry leaders and associations have largely welcomed the budget, praising its emphasis on job creation, women's participation in the workforce, and the overall growth of MSMEs. Despite some budget cuts to specific schemes, the overall response underscores the government's commitment to bolstering the sector.