Budget 2020 brings cheers to fintech industry

The fintech and startup sectors appreciate the continued support from Nirmala Sitharaman’s budget. They welcome the tax deferment for ESOPS and believe this will enable greater wealth creation opportunity for the employees and attract high quality talent to the start-up ecosystem.

Anand Kumar Bajaj, MD & CEO, PayNearby
“The removal of tax deductions with reduced tax rates is an intelligent move after creating habit of investment, saving and insurance. People would still continue to invest, save even without tax deductions. DDT removal will help invite investments in the sector. Continued support and expectation from Startups is appreciated. ESOP tax restructuring is a great breather along with definition of turnover for scaled startups doing good work.”

  • Source – ETBFSI.Com