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

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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