Feb 1, 2021By: Sanchita Dash
Except making way for one-person companies, tax holidays, startups found themselves in the lonely corner of the budget announcements.
Digital payments and financial services found special mention in Sitharaman’s speech.
It will be set up at the Gujarat International Finance Tec (GIFT) City.
This will boost digital payment infrastructure and a cashless economy.
“We are in the very early days of penetration of credit, insurance… most financial services,” he said.
“It shows the intent of the government to consistently invest in digital rails,” he said.
“The government understandably focussed on capitalising on this momentum and incentivising adoption of digital payments for the year ahead,” said Harshil Mathur of Razorpay.
“At NASSCOM, we have been emphasizing the importance of India as the hub for digital talent and innovation and are glad to see increased focus on innovation and skilling.”