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Below the Quote on Union Budget 2024-25 - Comments by Mr. George Alexander Muthoot, MD, Muthoot Finance

The Union Budget 2024 focuses on the comprehensive development of the economy by adhering to fiscal prudence, boosting infrastructure growth, and through continued emphasis on four major pillars of society - the poor, women, youth and the farmers. The massive impetus on capex expenditure outlay of Rs 11.11 lakh crore is a testimony to the government's focus on boosting investment activity and further strengthening fiscal health of the economy. As the largest gold loan NBFC in India, we are particularly encouraged by the government’s proposals give priority to MSMEs, women entrepreneurs and the agricultural sector. The credit guarantee scheme is going to significantly enhance credit access for MSMEs. This scheme aligns perfectly with our commitment to supporting small businesses and driving entrepreneurship, particularly among women. Further, the FM has also focused on boosting affordable housing under PM Awas Yojana offering assistance of 2.2 lakh crore rupees in the next five years. This will help in resolving various housing challenges for various lower and middle class families.