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Below the Pre-Budget Expectations Quote from Mr. Akshay Sarma, Chief Financial Officer at axio

“The 2024 Budget presents a significant opportunity to enhance the growth prospects of start-ups and NBFCs in India. Key announcements around aligning the GST input credit for NBFCs to 100% at par with other entities can spur growth for NBFCs. Any policy intervention that improves credit access for lower-income groups and new-to-credit borrowers would be highly encouraging. With the RBI urging the diversification of funding channels beyond traditional banks, policies that promote modern NBFCs to consider obtaining credit from international agencies or the government would broaden their funding avenues. Supporting start-ups through tailored fiscal policies, tax benefits, and easier credit access would boost entrepreneurship, innovation, and exports.”

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