Budget 2022: Fintech Industry Seeks Incentives To Push Financial Inclusion
NDTV
Seeking tax concessions in the budget, fintech industry is stressing that fiscal and non-fiscal incentives are needed for financial inclusion
Stepping up demand for tax concessions in the forthcoming budget, the fintech industry is stressing that the fiscal and non-fiscal incentives are needed to promote financial inclusion and move towards a less-cash economy.
The fintech industry and experts have urged finance minister Nirmala Sitharaman to lower the tax deductible at source (TDS) rates, saying such a move would free the capital for the sector without any impact on the government's revenue.
Ms Sitharaman is scheduled to present the budget for the next financial year on February 1.
Nitin Jain, Partner, Financial Services, PwC India, said qualification criteria for digital lenders, short-term credit, partnership guidelines with loan service providers, data governance norms, transparency norms are all required to ensure an optimal business environment for digital lending.
