From Agritech to Fintech Demands & Expectations for The Union Budget 2020

Deena Jacob, Co-founder, CFO & Head - Open, says, ''The budget should focus mainly on the measures to boost overall spends in the economy. Investment in infrastructure projects, effective agri revival schemes and measures like tax reduction for the middle-income segment to increase disposable income would be the key areas I would like to see the budget addressing this time''

From Agritech to Fintech Demands & Expectations for The Union Budget 2020

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While Union Budget 2020 is round the corner, the industry is coming forward with demands, expectations and recommendations for the Finance Minister. Here are some Union Budget 2020 expectations from the industry:

Deena Jacob, Co-founder, CFO & Head – Open, says, ”The budget should focus mainly on the measures to boost overall spends in the economy. Investment in infrastructure projects, effective agri revival schemes and measures like tax reduction for the middle-income segment to increase disposable income would be the key areas I would like to see the budget addressing this time”

Sharing an overview on fintech industry’s perspective, Rohit Kulkarni, Vice President of Payoneer shared, “In 2019, we saw our exporters rapidly grow and do exceedingly well! This growth is a strong indication of their entrepreneur zeal and increasing demand for Indian goods and services globally. We remain positive on the India growth story this year as well. We look forward to policies that help exporters source enhanced working capital for their growth aspirations and simplified documentation for cross border transactions. Fintech innovators and the government should collaborate effectively in providing meaningful solutions for Indian cross border sellers.”

Mr. Amitansu Sathpaty, Managing Director, Best Power Equipments, expressed his expectations from the finance minister by adding, “There are no incentives, benefits and support for the existing MSMEs in the manufacturing sector. From the budget, we expect that the Government should create a business friendly environment by giving tax credits, free land, worker training, low-interest loans,infrastructure improvements and help fast tracking licensing and permitting. The Government should also support in terms of sponsoring our sectors’ exposure to the International markets. The Government’s initiative to promote Make in India can only be possible when the government starts funding which will help us as a sector to represent Indian manufacturers”.

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