Budget 2026-27: Govt Launches ‘Corporate Mitras’ Cadre to Guide MSMEs Through Compliance Maze

In a significant move aimed at strengthening India’s MSME ecosystem, Finance Minister Nirmala Sitharaman announced the development of a new cadre of ‘Corporate Mitras’ during the presentation of the Union Budget 2026-27 on February 1, 2026. The initiative is designed to ease the compliance burden on small businesses, particularly in Tier-II and Tier-III towns, where access to professional services remains limited.

Key Highlights:

Affordable compliance support: Corporate Mitras will be accredited paraprofessionals, trained to help MSMEs meet regulatory and compliance requirements at lower costs compared to traditional consultancy services.

Training framework: Professional institutions such as ICAI, ICSI, and ICMAI will design short-term modular courses and practical tools to train these paraprofessionals, ensuring standardized quality and credibility.

Targeted outreach: The cadre will focus on emerging urban centres, where MSMEs often struggle with compliance due to lack of resources and high professional fees.

Employment generation: The initiative is expected to create new job opportunities for trained paraprofessionals, while simultaneously reducing operational hurdles for MSMEs.

Complementary measures: Alongside Corporate Mitras, the government proposed topping up the Self Reliant India Fund with ₹4,000 crore in FY27, aimed at equity support for MSMEs with growth potential. Additionally, the Trade Receivables Discounting System (TReDS) will be expanded as a transaction platform for all purchases from MSMEs by central public sector enterprises.

Policy intent: Sitharaman emphasized that the move reflects the government’s commitment to reforms over rhetoric, focusing on practical solutions to empower small businesses.

Industry Impact:  
Experts believe the Corporate Mitras initiative could be a game-changer for MSMEs, which contribute nearly 30% to India’s GDP and employ millions across sectors. By lowering compliance costs and improving access to professional guidance, the scheme is expected to enhance ease of doing business, foster innovation, and strengthen MSME competitiveness in both domestic and global markets.

Outlook:  
With MSMEs forming the backbone of India’s economy, the creation of Corporate Mitras signals a strategic shift toward inclusive growth. If implemented effectively, the cadre could bridge critical gaps in compliance, reduce litigation risks, and unlock new opportunities for small businesses to scale sustainably.

Sources: The Hindu, Mint, Business Standard, India Today, Economic Times Budget Coverage