January 30, 2024
Empowering Fintechs and MSMEs
"As India strides towards reaching a US$5 Trillion economy & is estimated to grow at 6 to 6.5%, I believe that the budget must lay the foundations for growth led by Manufacturing, Exports, and Infrastructure. The role of the Financial Services & Technology sectors as the catalyst to make that growth happen via cutting-edge innovation focussed on the inclusion of 'Bharat' and the youth. Policies and frameworks around ease of doing business, improvement in investments by domestic and international investors, Govt investments in key foundational capabilities such as infra, skill development, a strong Banking system, and incentives to start-up communities will be our expectations.
As a member of IT start-up & MSME sector, some of my appeals to the Honourable Finance Minister will be to provide -
- Easier tax regimes for the MSME sector, encouraging them to invest more that is required to generate jobs and create innovations
- Create substantial budgetary support for new edge technologies such as Indigenous AI, IOT, etc.
- ESOP prerequisite taxation change to exit or listing event.
A comprehensive and strategic budget for 2024 would propel the financial sector forward and contribute significantly to the broader goals of digital transformation, economic inclusivity, and sustainable financial practices."