Budget 2024: ONDC and more on e-commerce's cart for Nirmala Sitharaman
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Synopsis
Budget 2024: Finance Minister Nirmala Sitharaman will present Budget 2024 on July 23, outlining Modi's third term roadmap. The e-commerce sector, including Vijay Shekhar Sharma and MSMEs, seeks ONDC support. TEAM scheme, Rs 277 crore, aids MSMEs' digitalization. Shireesh Joshi targets 10 million ONDC transactions. Parliament session: July 22-August 12. Interim budget was presented in February; Lok Sabha polls held April-June.
"My expectation from the Government of India is to promote ONDC further because ONDC is in a way becoming an e-commerce platform for the small traders of our country, so we should talk about the creation and amendment of the overall e-commerce policy and about the enhancement of platforms like ONDC which have been created by the Government of India..." said Vijay Shekhar Sharma, Founder of Paytm.
The demand for platform was echoed by the MSMEs as well. Earlier, the micro, small and medium enterprises ministry has proposed the Trade Enablement & Marketing (TEAM) scheme, with an outlay of Rs 277 crore, to expand MSEs' business beyond the bricks-and-mortar model through ONDC, India's mega network, which seeks to enable buyers and sellers to transact through a single platform, reported ET in June.
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The platform, which was set up with an aim to democratise the country's ecommerce ecosystem, is on course to touch the 10-million transaction mark in June, a senior official said on Thursday. The open network has been adding one million transactions on a month-on-month basis, he said.
"We will touch 10 million transactions in the month of June. We are growing strong, adding about one million transactions month-on-month," ONDC CBO and president (Network Expansion) Shireesh Joshi said.
Budget 2024: Modi 3.0 first policy announcement:
Rijiju said, "Hon'ble President of India, on the recommendation of Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July, 2024 to 12 August, 2024 (Subject to exigencies of Parliamentary Business)."
In her address to a joint sitting of Parliament, she had said major social and economic decisions will be a highlight of the budget.
An interim budget was presented in February due to the Lok Sabha polls, which were held in April-June.
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