FinMin holds webinar on services for better implementation of Budget

As part of a post-Budget Webinar, the Finance Ministry on Tuesday hosted virtual discussions on the six chosen subjects following an address by Prime Minister Narendra Modi.

The webinar had six breakout sessions on various themes, including creating growth opportunities in GIFT International Financial Services Centre, facilitating seamless credit flow for MSMEs and enhancing customer ease for account opening and digital payments.

"As part of post-Budget Webinar on 'Enhancing Efficiency of Financial Services for Creating growth opportunities', a breakout session on "Facilitating Seamless Credit Flow" to #MSMEs was held via virtual mode today," the Finance Ministry said in a tweet.

The webinar was the 10th in the series of 12 post-Budget webinars being held to seek ideas and suggestions for effective implementation of the initiatives announced in the Union Budget 2023-24.

"As part of post-Budget Webinar on 'Enhancing Efficiency of Financial Services for Creating growth opportunities', a breakout session on "Enhancing Customer ease for account opening & Digital Payments Digital Payments" was held via virtual mode today," the ministry said in another tweet.

Besides, a breakout session on 'Enhancing efficiency of financial sector through NFIR & Capacity Building in Securities Market' was conducted.

During the plenary session, the moderators of the six breakout sessions presented their findings and way forward toward effective implementation of the initiatives announced in the Union Budget 2023-24, another tweet said.

"The Union Budget 2023-24 adopts seven priorities which complement each other and act as the 'Saptarishi' guiding us through the Amrit Kaal. The Financial Sector is one of the Seven priorities of the Government," the ministry tweeted.

Besides ministers and secretaries of the central government ministries concerned, stakeholders from the financial sector, including regulators, market participants and industry representatives, would attend these webinars and contribute through suggestions for better implementation of budgetary announcements.

In his address, the Prime Minister urged India Inc to increase investment in tandem with the government's decision to raise capital expenditure (capex) and take advantage of the opportunities unveiled in the Budget 2023-24.

Modi said the government has increased outlay on capex to a historic high of Rs 10 lakh crore.

He further said that India is being described as a bright spot in the global economy, and the country has attracted the highest FDI in the country in the year 2021-22, with a major part going into the manufacturing sector.

"I would also call upon the private sector of the country to increase their investment just like the government so that the country gets maximum benefit from it," he said while talking about the key proposals of the Budget.