FinTech

Gaurav Hinduja, Union Budget 2018, Post-Budget, MSME, Capital Float

Fintech sector and MSMEs have a Lot of Cheer From this Budget: CapitalFloat

“The Government and the Finance Ministry continues to identify the MSME sector as being critical towards increasing GDP & employment. The recapitalization of the PSU banks up to Rs 5 lakh crores and allocation of Rs 3 lakh crores in MUDRA loans ensures a higher availability of formal finance for credit-starved MSME segments. Another huge step towards boosting the growth prospects of MSMEs is the reduction of corporate tax to 25% for enterprises with a turnover of up to Rs 250 crores. The development of unique identities along the lines of AADHAAR for individual enterprises will enable us to further our efforts towards financial inclusion, as we can extend digital credit services to MSMEs with little to no documentation. The extension of Kisan Credit card to fisheries & animal husbandry farmers and the allocation of Rs.10,000 crore for fisheries & aquaculture, animal husbandry funds further adds to the Government’s efforts towards absorbing more segments into the formal financial ecosystem” said Gaurav Hinduja, Co-founder of Capital Float.

By Faiz Askari