Muralidharan Srinivasan, Head of Payments, APMEA Region, FIS, believes that the Union Budget will put in place a strong foundation for expansion of the digital infrastructure in the country:
‘“We expect the Union Budget 2022 to further layout concrete measure for expanding digital infrastructure in the country that will lead to speedy transactions, and will encourage Fintech companies to create new digital offerings for people. In order to achieve greater financial inclusion, tax incentives to merchants/ companies who are empowering people with digital onboarding and payments in Tier II / III cities and rural India can be offered which can be a key driver. We expect significant policies to be announced that may lead to increase in large-scale penetration of credit instruments in Tier II / III cities and rural India, and spur demand in the economy. We firmly believe that substantial improvement in digital infrastructure and advanced payment technology will eventually help in building a cash-free economy.”
