"The Budget announcement made by the Union Finance Minister on Saturday was visionary and demonstrates the government's intent to focus on demand generation, spurring jobs, increase infrastructure spends, attract foreign institutional investors and increase farm income," said Dr Rashmi Saluja, Non-Executive Chairman - Religare Enterprises.
"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," added Saluja.
"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," further added Dr Saluja.
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