Budget 2016- 17 Reaction Quote-Microfinance
Institution's Network (MFIN)
 |
| Manoj Nambiar, President, MFIN |
Quote from Microfinance Institution’s Network (MFIN) as
a reaction to the Union Budget announcement
on Feb 29. 2106.
The below quote to Manoj Kumar Nambiar, President, MFIN,
the Self-Regulatory Organisation of the microfinance sector
“The proposal to give statutory status to Aadhaar, focus
on agriculture sector, EPF contribution at 8.3% by the government for employing
the unemployed, allowing 5% exemption to provisions on doubtful debts,
enhancing the Credit Bureau Act, tax exemption on NPS withdrawal on retirement
are in the right direction for the microfinance business. I hope the removal of
dividend distribution tax on securitization announced for ARC’s and HFC’s will
be extended to NBFC MFI’s as well.”
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