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Jio Credit MD, CEO Kusal Roy on Union Budget
This story was originally published at 13:50 IST on 1 February 2026
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MUMBAI - Kusal Roy, managing director and chief executive officer, Jio Credit Ltd., said the following on the Union Budget for 2026-27 (Apr-Mar), presented in the Lok Sabha by Finance Minister Nirmala Sitharaman on Sunday:
The FM (finance minister) is to be congratulated for delivering a Budget that focuses on bolstering the SME (Small and Medium Enterprises) sector in particular, and manufacturing sector in general. There is a clear push to promote Make-in-India and derisking our economy from the impact of tariffs.
The honourable finance minister has announced substantial incentives for seven critical manufacturing sectors including pharmaceuticals, semiconductors, rare-earths, chemicals, capital goods, tool-production, container manufacturing and the textile sector. In addition, rejuvenation of 200 legacy industrial clusters will also provide a strong fillip to industries. There will also be dedicated focus on developing infrastructure for cities with a population over 500,000, and creation of a fund pool of Rs. 5,000 crore (INR 50 billion) per city economic region. The FM has also taken steps to upgrade TREDS by providing credit guarantee support, a move that will enhance confidence for SMEs on TREDS (trade receivable discounting system).
Overall, from the point of view of the NBFC sector, I expect this progressive Budget to have a positive impact on credit demand from SMEs and manufacturing sectors. In addition, there will be substantial employment generation and infrastructure creation in the city economic regions, which will further encourage offtake in retail credit. End
Compiled by Shumaila Firoz
Filed by Avishek Dutta
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