Page 32 - NIS English 01-15,April 2023

Cover Story Budget Webinar

ENHANCING FINANCIAL SERVICES TO CREATE GROWTH OPPORTUNITIES
India moving forward

with strong financial system

After the disaster of COVID, the world saw the effects of India's financial and monetary
policies. The reason for this is the central government's efforts over the last nine years
to strengthen the foundation of India's economy. "Why India?" has given way to "Why
not India?" The fiscal discipline, transparency, and inclusive approach of Prime Minister
Narendra Modi have been critical. India is now viewed with anticipation rather than
scepticism. Today, India is being referred to as the global economy's light beam, armed
with clarity, conviction, and confidence, as it advances with a strong financial system.

Budget Proposals

n Provision of Rs 10 lakh crore for capital expenditure.
n Due to the PM Gati Shakti, there will be an unprecedented speed in the planning and
implementation of the project.
n 1 crore 20 lakh MSMEs have received huge help from the government during the pandemic.

n Credit Guarantee Scheme for MSMEs was renewed. Started by adding Rs 9,000 crore to its
fund. With this, an additional collateral free guaranteed loan of Rs 2 lakh crore will be available.

30 New India Samachar April 1-15, 2023