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Post budget views of Mr. George Alexander Muthoot, MD, Muthoot Finance

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Mr. George Alexander Muthoot, MD, Muthoot Finance:

The budget has adopted simple strategies to keep the enthusiasm high. It focuses on doing business with much ease and in transparent manner, continued efforts to lower fiscal deficit to achieve lower interest rate scenario and continued thrust on MSME sector by providing easy access to credit.

The government has put in unwavering efforts to reach out to the underserved and provide them with financial services. The financial inclusion is on the right path with an environment of easy financing options.

The government has focused on key social spending like education and healthcare thereby improving the quality of life of lower income group. So in all the budget aims at inclusive growth with its reforms, generate employment and support the bottom of the pyramid entrepreneurs. The plan to revamp the Gold monetization scheme is a welcome move. There is 21,000 tons of gold with the general public. Through this process the idle asset at home will become productive, energizing the economy. This will bring in the household gold into the market. Thus reducing the need for import, and saving on valuable foreign exchange.

Please find below a post budget quote on behalf of Mr. Umesh Revankar, MD & CEO, Shriram Transport Finance.

“Prime Minister Modi’s fourth budget is growth oriented and  continues to strengthen the mission of rural and infrastructure development. The budget gives impetus on boosting farmer incomes and employment in rural areas.

Micro, small and medium enterprises (MSMEs) are the backbone of the economy and major contributors to the GDP.  The Finance minister has rightly touched upon on the MSME sector and provided various measures to stimulate the sector. The government’s MUDRA Yojana has successfully benefitted not only the lower income groups but also encouraged women entrepreneurship. With continued thrust on the MUDRA scheme, the government is sure to achieve its objective to create much-needed employment.”  

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