Govt should unveil another stimulus, weigh digital banking licences: Fintech founder

Here's a look at what Indian fintech startups and fintech-focussed entrepreneurs want from the government in Budget 2021.
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Fintech startups CapitalFloat, Fisdom, and Niyo suggest higher overall spending in the Budget, as well as measures specifically targeted to accelerate growth in key sectors of the economy.

Here's a look at what Indian fintech startups and fintech-focused entrepreneurs want from the government in Budget 2021.

  • Come up with another fiscal stimulus and ramp up spending to boost economic growth.
  • Announce specific measures to boost consumption instead of just tinkering with tax rates.
  • Significantly increase government spending on infrastructure.
  • Improve liquidity to the industry; cut rates and reserve ratios for lenders.
  • Prepare a systematic mechanism to help hardest-hit sectors like hospitality and travel.
  • Expand the credit guarantee scheme, and improve fiscal and monetary transmission.
  • Provide growth tools to digital businesses that have benefited from the pandemic.
  • Offer tax breaks to angel investors supporting new digital businesses.
  • Rationalise taxation on the sale of assets and taxation on income.
  • Consider offering digital banking licences or upgrading a bunch of NBFCs into banks.

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