New Delhi.  Dinesh Kumar Khara, chairman of the country's apex bank SBI, praised the budget released on Tuesday and expressed confidence that the proposals will boost consumption growth. Describing it as an 'inclusive budget', Dinesh Kumar Khara said that these proposals will boost the sluggish consumption activity in the economy.Speaking to PTI, he said announcements like the Pradhan Mantri Awas Yojana (PMAY) will help banks, which will boost credit growth. He also welcomed specific measures on loan recovery.

will have a huge impact on the economy

SBI Chairman said that I consider it a very inclusive budget with focus on rural and employment, skills and tourism. I think it will have a huge impact on the economy.The commitment to limit fiscal deficit to 4.9 per cent augurs well for the economy, he said, listing its implications including a possible rating upgrade, adding that a rise in the sovereign rating could help soften borrowing rates in the economy.

It will be easier to get a Kisan Credit Card

Dinesh Kumar Khara said that for the agriculture sector, the focus on digitising land records in agriculture will make it easier for farmers to obtain Kisan Credit Cards than before.At the same time, Bank of Baroda Chief Executive and Managing Director Debdutt Chand said that the budget and the economic review presented before it focused on medium term growth for the economy. He said that there are positive aspects for the banking sector like emphasis on small businesses, education loans and upgrading of debt recovery tribunals.