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Capital expenditure outlay has increased by 11.1 per cent to Rs 11.1 lakh crore. Fiscal deficit for FY 25 has been pegged at 5.1 per cent of GDP; GYAN (garib, yuva, annadata, narishakti) identified as key pillars to drive development.
At a time when private capex is expected to revive, the government’s commitment to cut its expenses will bode well for the cost of borrowing of the private sector.
NBFCs are well placed to harness the India Stack in ensuring last-mile credit delivery to the smallest business or remotest retail customer. For this, NBFCs will have to expand their capital base, and diversify across other sources of credit like debt markets and public deposits. Public deposits can be a cheap source of capital for upper layered large NBFCs, the benefits of which can be passed on to borrowers.
Spurred by the success of digital public goods and infrastructure such as CoWin and UPI at home, India wants to share the technology with emerging economies
The report noted that as the pandemic disrupted economic activities, the government responded swiftly, leveraging the strength of digital public infrastructure, commonly known as India Stack, to facilitate online, paperless and cashless access to various public and private services