New Delhi, February 01, 2022: “The Union Budget 2022-23 was a concise directional statement setting the tone for India@100, anchored around logistics, infrastructure and building a Digital and Green India.
The Budget recognizes the importance of digital payments which has increased in the last two years. This year’s focus on establishment of 75 Digital payment banks in 75 districts in the next three years, along with Post offices’ inclusion in core banking system, will help the retail sector in a big way as it will strengthen the payments infrastructure, particularly in the rural areas. The increase in Emergency Credit Line Guarantee Scheme (ECLGS) by Rs 50,000 crores to total cover of Rs 5 lakh crores and its extension by a year, is another welcome move that will provides the requisite working capital relief to the financially stressed MSMEs, especially the hospitality and allied sector. The outlay of 6000 crore for Raising and Accelerating MSME Performance (RAMP) will further aid and empower the SMEs in India.
Overall, the Budget will provide the right stimulus to generate employment and aid the Indian economy’s revival from the clutches of the pandemic.”
Corporate Comm India (CCI Newswire)
