“The union budget 2023-24 is a growth oriented budget and the FM has checked all the boxes – from consumption to capex to spending to middle class to industry. The income tax benefits announced will boost purchasing power for middle-class consumers. It’s a capex-heavy budget, with an announced 33% increase in capex, which will boost infrastructure, logistics and the transportation business. The government’s focus on Ease of doing business and the expanded corpus for the credit guarantee will mean MSMEs have a lot to gain from this budget. Agriculture and rural development have been given detailed attention which should boost the rural economy and consumption. I believe the announcements made will trigger a pick-up in credit off take for small enterprises, the consumption-driven 2w business and lending to transportation.”
About Shriram Finance Limited.
Shriram Finance Limited is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance, General Insurance, Housing Finance, Stock Broking and Distribution businesses. Shriram Finance Limited is India’s largest retail asset financing Non-Banking Finance Company (NBFC) with Assets under Management (AUM) of Rs. 17.75 trillion. Recently Shriram City Union Finance Limited and Shriram Capital Limited merged with Shriram Transport Finance Company Limited and was subsequently renamed as Shriram Finance Limited. Established in 1979, Shriram Finance is holistic finance provider catering to the needs of Small Road Transport Operators and small business owners and is a leader in organised financing of pre-owned commercial vehicles and two wheelers. It has vertically integrated business model and offers financing number of products which include passenger commercial vehicles, loans to micro and small and medium enterprises (MSMEs), tractors, gold, personal loans and working capital loans etc. Over last 43 years, it has developed strong competencies in the areas of Loan origination, valuation of pre-owned commercial vehicles and other assets, and collections. It has a pan India presence with network of over 2,901 outlets and an employee strength of more than 60,918 servicing over 69.8 lacs customers.
