Dr. Rashmi Saluja Non-Executive Chairman - Religare Enterprises.

The Budget announcementmade by the Union Finance Minister today was visionary and demonstrates the government intent to focus on demand generation spurring jobs increase infrastructure spends attract foreign institutional investors and increase farm income. Amendment in the Factor Regulation Act 2011 will enable NBFCs to extend invoice financing to the MSMEs through TReDS thereby enhancing their economic and financial sustainability. This is a welcome step and will instill confidence and bring optimism in the sector.

Introduction of a scheme to provide subordinate debt for entrepreneurs of MSMEs is a welcome step and I am confident that the Indian NBFC sector will reap the benefits of this growth stimulus and SME focused initiatives and be on the growth path soon.