Priority 7: Financial Sector

The Government’s reforms in the financial sector and innovative use of technology have led to financial inclusion at scale, better and faster service delivery, ease of access to credit and participation in financial markets. This Budget proposes to further these measures.

Credit Guarantee for MSMEs

  • The revamped credit guarantee scheme for MSMEs, proposed in the previous Budget, will take effect from 1st April 2023 through infusion of Rs. 9000 crore in the corpus.
  • This will enable additional collateral-free guaranteed credit of Rs. 2 lakh crore. Further, the cost of credit will be reduced by about 1%.

Financial Sector Regulations

  • To ....
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Budget 2023-24