APN News

  • Friday, April, 2020| Today's Market | Current Time: 12:41:02
  • Speaking about the interim Union Budget 2019, Mr. Shailendra Naidu, CEO, OBOPAY, said, “We welcome the Union Budget announcements which have brought out an array of improvements in the digital payments ecosystem. To begin with, proposing norms to ease FDI in Fintech startups and excluding startups from angel tax assessments if they meet the requisites of e-verification process are significant moves. Encouraging the use of digital payment instruments such as BHIM, UPI and Aadhaar Pay will go a long way towards a cashless economy and financial inclusion. Given the fact that the government has provided RBI with more power, we foresee NBFCs witnessing significant growth in coming years. Enhancing the turnover limit of companies from Rs 250 crore to Rs 400 crore in paying the corporate tax of 25% will surely boost the overall sentiment of the Fintech community. Further, giving provisions of one-time six month partial credit guarantee to buy pooled assets of sound NBFCs is a landmark decision.”

    Commenting on the post-election Union Budget 2019, Mr. Rajesh Srivastava, Executive Chairman, Rabo Equity Advisors, said, “Although the government has done some significant work in launching schemes such as the PM-KISAN scheme to support farmer’s income, we were expecting a lot more from this budget for farmers’ welfare. This year’s budget presented some great announcements such as zero budget farming wherein farmers can benefit through modern farming methods involving zero credit for agriculture and zero use of chemical fertilizers. This will double the farmers’ income in future. Another great news is setting up of 10,000 new farmer producer organisations and giving access to quality water for harvesting. Further, to ensure that the farmers reap the benefits of National Agriculture Market or e-Nam in better price discovery and facilities for smooth marketing of their produce, government must educate and train the farmers.”