Indian Union Budget 2010-11 Might Facilitate Financial Inculsion

03 Feb

Posted by Shyam as Market News

We will be covering the Union Budget 2010-11 updates here on a regular basis. As the budget dates come nearer, many discussions are on to see what can be the part of the yearly event which impacts every household. The finance minister and its team are looking for facilitating financial inclusion in the upcoming Union budget 2010-11. This will basically give the crores of poor people of the country an easy access to the existing financial services which are being enjoyed the higher class of the society.

The Govt is planning to set aside a significant amount to help the banks reach the poor people at a very low cost and people friendly. RBI is also roped in as a part of this and RBI has given strict guidelines to the banks. ICT ( Information And communication Technologies) based model is going to be the platform for this. Technology will be used in a massive scale to bring down the cost of the entire project.

Keeping aside all this Union Budget 2010-11 is going to the point of focus for the traders and investors community of India. With overall economy of the country on a growth path the biggest challenge infront of the Govt is to maintain the GDP growth rates to 7-9% range. The withdrawl of stimulus will be the other point of focus. News coming in today says the stimulus exit could be delayed. Even though the overall economy has improved the Govt wants to play it safe.