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Below is Post Budget Quote By Mr. Aditya Damani, Founder & CEO of Credit Fair

In the Budget FY24, the MSME sector got an enhanced lifeline by the infusion of Rs 9,000 crore to the credit guarantee corpus. It will enable additional collateral-free guaranteed credit of Rs 2 lakh crore, which is a big relief to the credit-starved sector. Further, the cost of credit will also be reduced by about 1%. Thus, largely, the MSMEs have received a favourable treatment in the budget. More direct tax benefits like Rs 3-crore enhanced turnover limit to such units to avail presumptive taxation benefits are also offered to the micro-enterprises. For the NBFCs, the Centre's decision to constitute the National Financial Information Registry and the continued fiscal support for the digital public infrastructure will be of great benefit. Moreover, the Centre's focus on Green Mobility, by announcing Rs. 35,000cr towards energy transition and more clarity in the Vehicle Scrapping Policy will offer a fillip to automobile finance business. Further, the government's push for the speedy transmission to the electric mobility solutions and higher allocation for green hydrogen production, and duty relief to domestic manufacturing of lithium ion batteries will accelerate EV finance segment.

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