Much of the segment that benefits from these measures tend to spend a large portion of their income. All this will culminate in extra demand for small business owners who in turn will need extra working capital. This is good news for retail NBFCs who lend to such small business owners. There is direct support for NBFCs as well with the 2% interest subvention for GST registered MSMEs.
With this budget, the government has re-iterated its commitment to help ease access to credit as well as equitable and inclusive growth for an equal and progressive India.”
Amit Saxena, MD&CEO, Unimoni India Ltd.