“This year’s Union Budget was in the spirit of “do no harm” in terms of any adverse policies being implemented. Broadly, the various decisions laid out in this year’s budget are more “incremental” rather than “transformational” in nature. Accessibility and affordability of education across the weaker economic strata of society has been a perennial challenge in our country, especially this year with the disparity increasing manifold due to lack of online education infrastructure both at the school and student level. This year’s budget has indicated a good intention of progress in addressing this gap. The government’s decision to strengthen over 15,000 schools under NEP, set up 100 new Sainik Schools, raise the allocation for ‘Eklavya’ schools in hilly areas, etc. will provide a fillip to quality education.
This budget has also laid down several measures that are further boosting the cause of both startups and especially fintech startups. Once again, we believe the steps taken relating to startups, although incremental in nature, point towards a long term policy goal of the government to significantly boost the sector via favorable policies, albeit with incremental steps taken every year instead of a big-bang transformational reform. The decision to extend capital gains tax exemption by another year is another step in that respect. Specific to fintech, the setting up a world-class Fintech hub at Gift city will add impetus and government recognition to the growing relevance of Fintech companies in India, which is essential considering that it is a regulated sector.”