What Kind of Budget Does India's Banking Sector Need?

In the fourth episode of 'Budget 2025: What's at Stake?', prominent social activist, banking reform advocate Thomas Franco dissects the government’s claims of a banking ‘turnaround,’ as highlighted in the last Economic Survey. Are declining non-performing assets, rising bank profits and increased financial inclusion as promising as they seem?

He also evaluates whether successive budgets have truly delivered on credit support for MSMEs, including MUDRA loans, during financial stress. Finally, Franco outlines what a credit-sensitive budget should prioritise, sharing key recommendations for strengthening the nation’s financial system.

This series is a collaboration between the Centre for Financial Accountability and The Wire.

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