Distribution of the second tranche of financial assistance to 13,000 youths under the Chief Minister’s Atmanirbhar Asom Abhijan (CMAAA) is an encouraging development, as it signifies proper utilisation of the first tranche of financial assistance for their entrepreneurial ventures. The objective of the scheme is to enable unemployed youth to become self-reliant by providing them with the necessary resources, guidance, and support, which is a pragmatic approach to address the problem of rising unemployment by facilitating an entrepreneur-orientated ecosystem in the state. The central government fast-tracking implementation of key announcements in the Union Budget related to MSMEs can help these self-employed educated youth to dream bigger and take their entrepreneurial venture to the next stage. The Parliamentary Standing Committee on Industry has expressed serious concern that only two of the eight announcements have been operationalised. The Committee’s finding that the remaining six announcements, where the MSME Ministry is a supporting agency, continue to languish at the stage of draft guidelines, inter-ministerial consultations, or preliminary deliberations without clearly defined or publicly disclosed rollout timelines points towards critical gaps in the MSME ecosystem. The Committee observes, as stated in its report, that two announcements of particular significance to the MSME ecosystem—credit cards for micro enterprises and the scheme for first-time entrepreneurs (women and SC/ST)—remain unimplemented nearly twelve months after their announcement. The credit card initiative has not progressed beyond the draft stage, despite its intention to reach ten lakh micro enterprises in the first year. The first-time entrepreneur scheme, which carries important equity and inclusion objectives, remains at the EFC (Expenditure Finance Committee) memorandum stage. The parliamentary panel has rightly observed that these delays indicate a serious disconnect between the policy intent articulated in the budget speech and the administrative machinery required for last-mile delivery. The announcements in the Union Budget are meant for MSMEs registered on the Udayam portal, and although it is not mandatory for CMAAA beneficiaries to register on this portal, easy access to assistance like credit cards and the implementation of announcements for first-time entrepreneurs can encourage them to start a microenterprise once they become self-employed. The scheme for first-time entrepreneurs envisages providing term loans up to Rs 2 crore for five lakh women and SC/ST entrepreneurs over five years. More than 99% of MSMEs in the country registered on the Udayam portal are micro enterprises. The Committee’s observation that the upward revision of investment and turnover limits has the unintended consequence of allowing comparatively larger enterprises to remain within the micro segment, thereby risking dilution of the original intent of the MSME framework and constraining access to benefits for genuinely small and household-level enterprises, speaks volumes about the challenges before micro enterprises to expand their enterprises. The revision in classification criteria for MSMEs increased the investment limit of microenterprises up to Rs 2.5 crore and the turnover limit up to Rs 10 crore. The Committee had specifically recommended rationalisation of the MSME definitions and the creation of a separate nano enterprise category but observed that no tangible action has been taken by the Ministry so far. The committee has strongly reiterated its earlier recommendation and urges the Ministry to undertake, without further delay, a comprehensive review of the MSME classification framework and introduce a separate nano enterprise category with an appropriate threshold around Rs. 10 lakh investment. Acceptance of this recommendation of classification of nano enterprises will bring CMAAA beneficiaries into the fold of various central government schemes and incentives for MSMEs, especially getting access to credit required for expansion of their entrepreneurial ventures. The separate classification will distinguish the nano enterprises from micro enterprises for targeted financing, formalisation, digitalisation and infrastructure support. Expansion of entrepreneurial ventures to nano enterprises can generate employment livelihood avenues for more unemployed youth and strengthen the state’s economy in rural and semi-urban areas. Once the beneficiaries of CMAAA are formalised into the Nano category of the MSME ecosystem, the state government can help more educated unemployed people avail financial assistance under the scheme to become self-employed. The state has ample opportunities for entrepreneurial growth in agriculture and allied sectors, packaging sectors, handloom and textile sectors, readymade garment sectors, livestock rearing and dairy sectors, and bamboo and wood-based industries, but innovative ideas are essential to tap the markets. Prioritising vocational education, skill development, and industrial internships. Student start-ups as envisaged in the National Education Policy 2020 can motivate students to aspire for self-employment and contribute to the state and national economy. Exposing students to a dynamic skill landscape, entrepreneurship can help create the talent pool for different sectors, and educational institutions will then groom industry-ready, enterprise-ready youth when they leave the institutions to pursue career goals. Success stories of CMAAA beneficiaries who become entrepreneurs can shift the mindset of an entire generation to prioritise skill learning, problem solving, and transforming local opportunities into sustainable enterprises, encouraging them to dream beyond degree-linked education.