Budget 2024: MSME data stack, alternative credit assessment models can bridge $530 bn credit gap, says industry

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Budget 2024: MSME data stack, alternative credit assessment models can bridge $530 bn credit gap, says industry - Economic Times

Quick Summary:

Industry experts highlight the pressing need to tackle the issue of cash flow problems for the MSME sector in the upcoming Budget on July 23.

MSMEs face a credit gap of $530 billion, and only 14% of the 63 million small businesses in India have access to credit, according to a report by investment bank Avendus Capital.

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