Budget quote by Venkatraman Venkateswaran, Group President & CFO, Federal Bank

“Budget 2023-24 is an Infrastructure Spending oriented budget with 7 priorities set by the FM. The budget unveiled tax cuts and set the virtuous cycle of job creation. Out of the overall growth agenda, specifically looking at Banking sector, there are two major proposals. Firstly on Agricultural credit, the target is hiked to Rs.20 Lakh crore, which will help drive rural growth. Additionally, the revamped credit guarantee scheme for MSMEs, with infusion of Rs 9000 crore into the corpus, will enable additional collateral free credit guarantee of Rs 2 lakh crore”.