APN News

  • Sunday, July, 2024| Today's Market | Current Time: 05:02:13
  • Tanul Mishra, CEO, Afthonia Lab –

    “For me, the fintech industry has only touched the tip of the infrastructure transformation iceberg. In the years to come, we are likely to see that transformation journey evolve and go deeper into the tier 2/3/4 cities and semi-urban and rural spaces to create true impact. This is only possible with the continued support extended by the government, in terms of reforms, flexible regulatory environments, and budgetary allocations towards state and regional sandboxes that help create structural and foundational changes to India’s complex financial services industry. According to a report by CLSA, it is said that the value of digital payments in India will grow 3x to touch $1 trillion by the financial year 2026 compared to $300 billion in the financial year 2021, and for that to happen, better infrastructure and connectivity along with the support to propel the industry “forward is the need of the hour”

    Wilson Bright, Co-Founder, Blocksurvey – “ In 2022, countries across the globe would be battling on how to combat the rising inflation and the response to Fed’s tightening stance. India would be no exception to this. The Government has to be prudent on fiscal deficit and, at the same time, need to keep up the momentum on growth. It would be worthwhile to see if the Government considers special allocations/benefits to the sectors most affected by the pandemic. The Government would continue to drive their agenda on ease of doing business. We could therefore expect some concessions/tax breaks for start-up companies. With Governments’ push for digital disruptions, it needs to be seen whether they would make bold initiatives in simplifying the tax laws, lowering the barriers for the compliance functions such as assessments, litigation proceedings, etc. The Government looks to be very committed to achieving zero-emission targets and would make way for investments in sustainable energy sectors. Ramping the infrastructure in and around the electric vehicles sector is a good case. Furthermore, since the crypto bill is still in its draft stage, I feel crypto and blockchain may not get the attention or support it needs in India. Crypto and Blockchain start-ups may look to migrate offshore for operations where the environment is more favorable. Hopefully, this gets addressed soon so that India doesn’t miss the crypto and blockchain wave.”

    Darsh Goleccha, Founder and CEO, Monech:- “Focus areas of the current budget will be the EV & Green energy initiatives will be of high focus point with schemes to facilitate the same to be promoted: focus on offshore energy storage. Indian Mobility will be one of the highlights of this government policy, with tax breaks on manufacturing, consumption to be extended and new schemes may be launched. There will be clarity on creator taxations and gains from creator purchases and digital assets likely be announced. Spending on digital infrastructure will increase, whereas physical infrastructure may continue to have a standard budget allocation and hike with Technology Media Telecommunications being the major focus.FinTech policy and regulations may get stricter, however, some extensions and initiatives may be announced to promote cooperation between banks and FinTechs. Account Aggregator ecosystem to pick up post the budget. Expect a policy around international, startup IPOs to be released and startup index launch. Govt. regulations around Cryptocurrencies might be light however some policies might be floated for testing purposes.”

    Quote by Payal Jain, Founder, Funngro – “ Last couple of years have seen significant growth of online education and role of technology companies in this space needs to be strengthened further. Relook at the GST rates for online education, expanding the net of 80C and specific focus of government in growing financial literacy of citizens would be the primary expectations from the budget. These changes would greatly enable online education access for all Indians.”

    Saumya Shah, Founder, Tarrakki

    “ No taxation in switching from Regular to Direct plans: Income tax (LTCG or STCG) is being applied if an investor switches from a regular plan to direct plans or switches from Growth to Divided or vice versa. Given the underlying assets of all the schemes are the same, I’d hope in this year’s budget we see taxation only being applied when the units are sold and not when the user switches the plan.”


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