Budget 2026: Path cleared for cheap loans for MSMEs and villages? NBFC may get a big gift; what will be special
Jagran Bureau, New Delhi. After carrying out several reforms in the last one year, the government's entire focus is on increasing rural demand so that the pace of economic growth of the country can be maintained further. In this sequence, positive announcements are being prepared for Non-Banking Financial Companies (NBFCs) in the General Budget 2026-27. The focus will be mainly on providing loans to MSMEs and low-income borrowers at affordable rates. Apart from this, steps will also be taken to provide easy loans to small, small and medium entrepreneurs located in remote areas.
RBI and Finance Ministry announced
These announcements will be based on the suggestions received in a special review meeting held recently between the RBI and the Finance Ministry. It is believed that for the above purpose, setting up a special refinance fund to provide funds to NBFCs, expanding the Mudra scheme and simplifying the loan schemes are on the agenda of the government. The above step is being taken by the government when the importance of NBFCs in the country's economy has been underlined afresh.
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Many problems in NBFC, RBI solved them
A few years ago, many problems had arisen regarding NBFCs, which RBI has resolved by continuously improving its monitoring system. Now NBFCs are also being given full encouragement by RBI. Even in the last general budget, Finance Minister Nirmala Sitharaman had made some important announcements for NBFCs.
NBFC people are saying that its positive impact is completely visible. As of today, the share of NBFCs in retail loans has increased to 58 percent. Especially in the second and third tier cities, the number of loans distributed by NBFCs is much higher than that of commercial banks.
What are the expectations from Budget 2026? (budget expectations 2026)
Avinash Kumar, COO of DJT Microfinance, says, "We expect in the Union Budget 2026 (Budget Expectations 2026) that MSMEs and low-income people can get cheap and easy loans, as well as provide more help for digital education. Microfinance institutions are very important to ensure that there is demand in rural areas and cheap money reaches different places.
To grow, there should be fewer difficulties in funding and barriers should be removed. We expect the cost of funds to come down for NBFCs, which can be achieved through special refinance windows. It is important to further expand the Mudra scheme and simplify the loan schemes to reduce the burden on the balance sheet and increase access to more people.
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