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By Umesh Revankar, VC & MD at Shriram Transport Finance

“The union budget 2022 is a bold and growth-oriented budget which will result into a multiplier effect on the economy and benefit the Aam Aadmi, despite no direct benefit transfers. We believe the FM has presented an investment led budget and this will propel sectors like cement, steel and construction which will lead to increased movement of goods, boost bulk transportation movement and help in the revival of the transport industry.  The government widening the ECLGS scheme & revamping CGTMSE (Credit Guarantee Trust for Micro and Small Enterprises) are steps taken to accelerate growth and reduce stress particularly in the MSME segment. Housing project allocation of Rs 48000 crore is likely to boost growth momentum for the building materials sectors and real estate activities in general. We believe the budget is a very forward looking one with emphasis on digital economy and reducing carbon footprint, which will benefit digital lending and lead to environment friendly policies going ahead for the vehicle sector. Ease of doing business has taken centre stage as the Government has committed to a ​long-term growth of over 8% for the next 3 years. India's economy is now well placed and we are optimistic on credit uptake in the economy.”

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