Read the following text carefully: The Union Budget 2025-26 introduces a series of measures aimed at strengthening the Micro, Small and Medium…

Read the following text carefully :

The Union Budget $\displaystyle 2025$-$\displaystyle 26$ introduces a series of measures aimed at strengthening the Micro, Small and Medium Enterprises (MSME) sector. It recognises the role of MSMEs as one of the key engines in India's journey of development, along with agriculture, investment and exports.

As a vital contributor to India's industrial landscape, the MSME sector plays a crucial role in manufacturing sector, exports and employment generation.

The new budgetary provisions aim to build on this strong foundation by fostering innovation, enhancing competitiveness and ensuring better access to resources.

Furthermore, the Government's ongoing initiatives like Udyam registration portal, PM Vishwakarma, PMEGP, SFURTI, and the Public Procurement Policy continue to demonstrate a combined effort towards integrating and empowering MSMEs.

On the basis of given text and common understanding, answer the following questions :

“MSMEs play a pivotal role in the India's journey of development

Do you agree with the given statement ?” Give valid reason in support of your answer.

Explain key measures initiated by the Government for strengthening MSMEs.