Budget 2019

Rational and comprehensive budget: Kuldip Maity

Abhishek Law Kolkata | Updated on January 20, 2018 Published on February 29, 2016

Union Budget reaction

The Union Budget is rational and comprehensive; and does not have any surprises, maintained Kuldip Maity, MD and CEO, Village Financial Services Ltd.

“We welcome the proposal to increase the target of disbursals under Mudra Yojana to Rs 1. 80 lakh crore. The focus on vulnerable sections through the Pradhan Mantri Fasal Bima Yojana; a new health insurance scheme to protect against hospitalisation expenditure and providing for cooking gas connection for BPL families are equally welcome,” he said.

According to Maity, the renewed thrust on rural economy, irrigation and women empowerment; along with focus on rural infrastructure, village electrification and skill development in the Budget will have a significant impact on rural India.

The disappointment, he said, came mostly with the fact that the microfinance industry was looking forward for service tax exemption from the microfinance borrowers.

It was also looking at having a clear set of guidelines about the lending rate from banks to MFIs. However, the Budget has remained silent on these points.

Published on February 29, 2016
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