Union Budget 2022: Digital Education & Fintech Perspective

Vamsi Krishna, CEO & Co-Founder, Vedantu welcomed this year's budget by saying,

“The COVID-induced gap in learning needs to be addressed on priority and EdTech platforms should continue to ensure that students receive uninterrupted learning in such challenging times. By providing students easy access to quality learning, this year’s budget  lays a clear emphasis to reduce the gap between students in remote areas and education. Initiatives such as the 'One Class One TV Channel' and the E-Vidya scheme is a welcome move that will drive impact at scale and bridge the language divide amongst students from small-town India. We believe that this budget rightly aligns with our vision of democratizing education by providing students access to high quality learning, improving learning outcomes and thereby contributing to a vibrant knowledge economy.”

Rahul Raj, Founder & CEO FloBiz commented, 

“We wholeheartedly welcome the Union Budget 2022-23. It is gratifying to see a sustained push towards digitisation & promoting the Aatmanirbhar Bharat vision. We believe the measures & initiatives announced for the upliftment of MSMEs will significantly help in boosting the economic activity impacted by the pandemic. The decision to revamp the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme & infuse additional credit of Rs 2 lakh crore will also assist in business continuity, exploring new opportunities in manufacturing, and creating more employment avenues. In addition, the Emergency Credit Line Guarantee Scheme (ECLGS) extension up to March 2023 is a great push for the MSMEs, especially for enterprises that are not yet back to the pre-pandemic levels of business scale & are slowly moving towards their recovery. 

This Union Budget has also recognised startups as key drivers of growth and innovation in the country. The extension on the period of incorporation and providing tax incentives will provide impetus and inspire entrepreneurs to continue driving innovation to put the Indian economy strongly on a clear growth trajectory.”