To make India a cashless society, everyone has to accept the payment, which is other than the cash. In the budget 2019, the first was started with the big digital leap by introducing digital initiatives such as eHospital, design, BHIM, UPI, and so on. The demonstration was also one of the big push for digital India.
In the budget, Fintech expected the government to usher in the new sets of the reform for the current fiscal and hope for the tax relief, access to the funding and push to the digital economy. The finance minister releases the budget on July 5.
The interim budget is already present on Feb 1. That kind of initiative attracted the established players and start-ups. The fintech sector expects that the government extends the hand to save the industry. They are an optimist in the budget that will push and help amplify the efforts in the direction. They are expecting to relook at the GST which is imposed on the services. GST creates a significant burden on the system.