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Below are Views On Post Budget Statement By Dr Rashmi Saluja, Executive Chairperson, Religare Enterprises Ltd

“The Union Budget has made the right sounds by pushing reforms to add infrastructure creation in healthcare and roads. Provisions for MSMEs will give a big boost to the sector that has borne the maximum brunt of the COVID 19 pandemic. Setting up of the long-awaited bad bank will ease the bad loan burden by taking over the assets. This will help the banks focus on credit growth, which was hit because of the Covid pandemic. Asset Reconstruction Company and Asset Management Company to house stressed assets will also help move the bad assets currently lying in the books of Indian banks.

The Rs 20,000 crore capital infusion into public sector banks announced will allow more room for provisioning of bad assets and boost credit growth, provided demand makes a comeback.

It is a budget aimed at growth and exactly what the doctor had ordered for the economy. Government has tried to solve some of the issues by creating employment opportunities. A lot would depend on the execution during the year.”

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