Budget 2024 - NewNerve

The Indian fintech sector, a dynamic force driving financial inclusion and innovation, is eagerly awaiting the Union Budget 2024. With its rapid growth and potential to transform the financial landscape, the sector is looking for policy measures that can further propel its trajectory. Here are some key expectations from the fintech industry for Budget 2024: 1. Boosting Digital Public Infrastructure: Investment in UPI and Digital Payments: The fintech industry is calling for increased investment in the Unified Payments Interface (UPI) and other digital payment infrastructure. This includes expanding UPI's reach to rural areas, enhancing its security features, and exploring potential for cross-border payments. Promoting Open Finance: Encouraging the adoption of open finance fra...

Finance Minister Nirmala Sitharaman is set to present her seventh consecutive Union Budget 2024, including the Interim one earlier this year. This continuity is remarkable, but there’s more to it. Let’s delve into the key points: Fiscal Consolidation Path: Officials suggest that the full Budget will likely adhere to the fiscal consolidation path set in the Interim Budget, maintaining the fiscal deficit target for the current financial year at 5.1% of GDP. The robust GDP growth and a record dividend from the Reserve Bank of India provide support. Tax Breaks vs. Welfare: There’s buzz about tax breaks for the salaried class, especially those at the bottom rung. Some argue that tax breaks are more effective than welfare schemes in boosting consumption by putting more disposable income ...

Tag: Budget 2024

Fintech’s Wishlist for Budget 2024: A Call for Digital Infrastructure and Innovation

Union Budget 2024: Continuity and Challenges