Dinesh Khara, the Chairman of the State Bank of India (SBI), shared in an interview with CNBC-TV18 that the Budget 2024, highlighted by Finance Minister Nirmala Sitharaman, is geared towards enhancing productivity in the rural and SME sectors. Khara emphasized that the government’s focus on these areas is crucial for promoting inclusive growth, especially for farmers, the poor, women, and youth.
According to Khara, the Economic Survey’s estimated growth rate of 6.5-7% for FY25 may surpass 7%, with a more specific projection of around 7.5%, due to key budgetary measures like significant investments in housing. He mentioned that the focus on housing will boost the economy’s core sector, create employment opportunities, and drive growth.
In the interview, Khara explained that the budget aims to address productivity, the rural sector, and SMEs for inclusive growth. He also highlighted the focus on themes like employment, skilling, and MSMEs. With a positive outlook on the budget, Khara anticipates a growth rate exceeding 7%, leaning towards 7.5%. The emphasis on housing is expected to support the economy’s growth initiatives and provide opportunities for retail growth.
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