Budget 2022, February 2 – LoanTap would like to present its gratitude to the powers that be, for establishing a rock-solid foundation of vertical growth for the Indian Economy with the Annual Budget for FY22-23. This budget aims to give a blueprint to steer the economy over the course of the next 25 years. India’s growth is estimated to be at 9.2%, the highest among all large economies which reflects that we are now in a strong position to withstand challenges as the Finance Minister claimed.
The government is complementing macro-growth with micro-all-inclusive welfare, digital economy, and fintech, tech-enabled development which has paved a way for the FinTech industry to rise beyond belief. Budget 2022 is promising for public investment and capital expenditure which will enhance the economy in many ways. The initiative to improve the quality of life of citizens in the most backward districts of the country, through aspirational districts progress has been translated into reality with the Budget 2022.
In recent years, digital banking, digital payments, and fintech innovation have grown at a rapid pace in the country. The government is continuously encouraging these sectors to ensure that the benefits of digital banking reach every new local corner of the country in a consumer-friendly manner. Taking forward this agenda, and to mark 75 years of independence, it is proposed to set up 75 Digital Banking units in 75 districts of the country by scheduled commercial banks which has marked a bold Budget this year.
The fact that urban development is of critical importance is well known. On the one hand, we need to nurture the megacities and the insolence to become current centers of economic growth and on the other, we need to facilitate tier two and tier three cities to take on the mantle, in the future and uplift those cities to become the upcoming hubs of Tech and Progress.
Further, there has been a phenomenal increase in transactions with digital assets. The magnitude and frequency of these transactions have made it imperative to provide a tax regime accordingly.
LoanTap believes that India is set to move forward and upwards economically and in due process, multi-dimensional upliftment of all segments of the society shall follow. We are now on a Broad-Based Road Towards a Robust Economy.
