It's a growth-oriented Budget on the backdrop of the pandemic - Shanti Lal Jain, Indian Bank
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Shri Shanti Lal Jain, MD & CEO of Indian Bank
‘It's a growth-oriented Budget on the backdrop of the pandemic. It is laudable that the focus is centred on Clean energy, Infrastructure, Agriculture, MSME, Education, Digital Economy, Hospitality, transportation & logistics and increasing capital expenditure for overall development of the economy. The government's thrust has also been to relieve the supply-side bottlenecks.
The reforms namely the issuance of Digital Rupee, Green bonds, Extension of ECLGS up to Mar’23, increase the allocation in ECLGS and CGTMSE, announcement of 75 digital banking units and 1.5 lakh post offices to be connected to Core Banking for ease of financial transactions especially in the rural and semi-urban areas, are the hallmarks for a healthy financial sector that will accelerate the financing and augmenting credit flow to the economy.
Mostly unchanged direct tax regime has led to stability in the tax environment and gives us confidence that the economy is on the path of recovery. The implementation of the proposed steps and also the reforms will help in raising demand, create jobs and augment India’s economic growth’.
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