Pre Budget Quote – by Mr. Deepak Aggarwal, Co-Founder, Moneyboxx
With 65% of population residing in rural India and largely dependent on agriculture and allied sectors, fast and sustainable growth in the sector has long-lasting implications for inclusive growth. While policy initiatives such as priority sector lending targets, Jan-Dhan accounts, Mudra Yojana have led to improved access to credit over the years, further impetus is needed given that rural India received only 9% share of banking credit despite contributing close to half of country’s national income. New-age, Fintech players are expected to play a pivotal role along with banks in widening financial inclusion and ease of availability of credit. In the upcoming Budget, policies focused on addressing this structural credit gap and measures to boost rural income would be welcome. –Mr. Deepak Aggarwal, Co-Founder, Moneyboxx
