Budget speaks finance inclusion of non-corporate sector - RNews1 Network

Budget speaks finance inclusion of non-corporate sector

Finance Minister Arun Jaitley, Union Budget 2015, budget 2015, Arun Jaitley, Confederation of all india Traders, CAIT
New Delhi : The Confederation of All India Traders (CAIT) has lauded the Union budget saying that for the first time due attention is given to non corporate sector which is making a contribution of 45% to national GDP. The Budget is a document of financial inclusion of non corporate sector-said CAIT.

The CAIT has complemented the Finance Minister for his landmark initiative of setting of Micro Units Development and Refinance Agency (Mudra Bank) for finance deliveries exclusively to non corporate sector which will bring non corporate sector in mainstream of development. A separate sub-limit of 7.5% for Micro Enterprises in priority sector lending is a step further to strengthen non corporate sector.

B. C. Bhartia, National President and Mr. Praveen Khandelwal, Secretary General of Confederation of All India Traders (CAIT) while reacting on Union Budget complimented efforts for financial inclusion of small traders and non corporate sector.

Announcement of Discount of Receivables of MSME, separate bench in High Court for Commercial litigation and Accidental Insurance at a very nominal amount are some of the steps which will greatly benefit the traders and non-corporate sector.

Both Bhartia & Khandelwal said formation of Monetary Policy Committee is yet another step to streamline the monetary policy. Linkage of SEBI in Forward Market Commission will keep a check on speculative business in forward markets. Designating Post offices as additional arm of banking system will give make available banking system in every nook & corner of the Country.

Both leaders said that setting up of National Skill Mission will certainly develop varied skills of the non corporate sector and Incentivising Debit/Credit Cards will be a step further in ensuring cashless society.

Deviating from the traditional method of presenting Union Budget Jaitly has set the path to take Indian Economy to worlds 3rd largest economy.  Budget 2015-16 is a 5 year vision document of Modi Government.

Financial Empowerment of States and decentralization of planning & unplementation  at State & panchayat Level will help in over all equitable balanced growth of the nation with area specific development & growth.

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