Aashit Shah, Partner, J. Sagar Associates (JSA) on Finance minister Nirmala Sitharaman announcement on on the Banking and Finance sector for 2022-2023 in Parliament

“The Budget proposals will provide various opportunities for debt and equity investments across sectors. The Government has emphasised the need for improvement in the infrastructure space by launching the PM Gati Shakti scheme, which will boost investments in the transportation and logistics sectors. The extension of the ECLGS to March 2023 and expansion of the guarantee cover by an additional 50,000 crore will benefit the hospitality sector that has been crippled by the pandemic. The proposed issue of sovereign green bonds will enable public sector companies to raise commercially viable financing for projects that will reduce carbon emissions. Further, the additional allocation of 19500 crores for production linked incentives for manufacturing of high efficiency modules for solar power will give a boost to the renewable energy sector and help in achieving India’s climate change goals. The thrust on digitisation is once again evident in the budget, especially with the setting up 75 digital banking units in 75 districts in the country. The focus on payment platforms that are economical and user friendly with boost digital payments and contribute to the growth of the fintech sector.” – Aashit Shah, Partner, J. Sagar Associates (JSA).