Pre-Budget Quote : The government must move beyond rhetoric and actively implement measures to strengthen MSMEs by Mr. Shachindra Nath, Founder & Managing Director, U GRO Capital
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Below the Pre-budget Quote by Mr. Shachindra Nath, Founder & Managing Director, U GRO Capital
“A need for policy support, like enhancing credit guarantee schemes, providing liquidity support, and revisiting the RBI's lending architecture, is required. The government must move beyond rhetoric and actively implement measures to strengthen MSMEs. The credit gap, especially in the universe of enterprises with turnovers ranging from 15 lakhs to 15 crores, stands at a staggering 85,00,000 crores. For sustainable growth, a continuous injection of liquidity is imperative. While regulatory narratives have emphasized co-lending and banks refrain from lending directly to NBFCs, it's crucial to acknowledge that smaller and medium-sized NBFCs play a significant role in credit dissemination, particularly to the underserved.
Emphasizing the formalization of MSMEs post-demonetization, GST, and digitization, the challenge now lies in ensuring access to credit for these entities. The government's role in providing sovereign guarantees for deserving NBFCs, unlocking private equity support, and fostering a robust credit ecosystem is pivotal. As we delve into the budget discussions, let's move beyond aspirations and translate them into tangible policies that fortify the backbone of our economy – the MSMEs.”
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