Budget 2026: Who are ‘Corporate Mitras’ and how will they help MSMEs?

The Union Budget 2026-27 has proposed the creation of a new cadre of accredited para-professionals called ‘Corporate Mitras’ to help micro, small and medium enterprises (MSMEs meet regulatory and compliance requirements at affordable costs, particularly in Tier-II and Tier-III towns.

Presenting the Budget in Lok Sabha, Finance Minister Nirmala Sitharaman said the government will facilitate professional institutions such as the Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and Institute of Cost Accountants of India (ICMAI) to design short-term, modular courses and practical tools for training Corporate Mitras.

“These accredited para-professionals will help MSMEs meet compliance requirements at affordable costs,” Sitharaman said in her Budget speech.

Other MSME-related proposals

The proposal forms part of the measures announced in the Budget to strengthen the MSME ecosystem.

Sitharaman said central public sector enterprises will be mandated to use the Trade Receivables Discounting System (TReDS) as “a transaction platform for all purchases from MSMEs”.

She also proposed to top up the Self Reliance India Fund with ₹4,000 crore in FY27 to provide equity support to MSMEs, and announced the creation of a ₹10,000-crore fund to develop “champion SMEs” to scale up manufacturing capacity and competitiveness.

Self Reliance India Fund was announced in 2023 to infuse ₹50,000 crore in equity funding into MSMEs with the potential and viability to grow into large units.

The Economic Survey, tabled ahead of the Budget 2026 on January 29, highlighted that MSMEs formed the backbone of India’s industrial economy. According to the Survey, the MSME sector accounts for nearly 35.4% manufacturing and around 48.58% of exports and 31.1% of GDP.

With over 7.47 crore enterprises employing more than 32.82 crore people, the sector is the second-largest employer after agriculture.

As India’s manufacturing sector becomes increasingly integrated with global markets, the Survey highlights that MSMEs are crucial for supply-chain participation, local value addition and inclusive regional growth.

The Survey also stated that MSME credit has continued to grow, backed by government measures to improve access to finance. During H1FY26, MSME credit was the main contributor to industrial credit growth, with year-on-year expansion outpacing that of large industries.