Union Budget 2023-2024 Reaction: Sanjeev Chandak, Co-founder & CEO of ftcash

The Budget laid much-needed importance on MSME sector which is still recovering from the pandemic-induced challenges. The infusion of Rs 9,000 crore corpus for revamped credit guarantee scheme significantly addresses the credit gap and is aimed at enhancing credit access thereby paving the way to encourage entrepreneurship in the country. This apart, this year’s budget also laid focus on another important aspect i.e., the introduction of National Data Governance Policy which will ease the KYC process and reduce privacy breaches. It will also enhance the use, access and quality of data and improve the Government’s data collection and management while enabling inclusive development. This is still at a very nascent stage and will require consistent efforts to truly create a digital economy.