Need to increase funding for new businesses, simplify credit facilities in the budget: experts

New Delhi, July 3 (). Before the next Budget of the Union, the companies of the financial sector are looking for measures like an increase of the financing for new companies and services of credit based on incentives to help the manufacturing sector.

Finance Minister Nirmala Sithraman will present the first full Modi 2.0 government budget on Friday amid high industry expectations for a big boost to the slowdown in the economy.

One of the top priorities for policy makers should be one of the top priorities for policy makers, said Nilyanka Bhushan. , Managing Partner and Co-founder, Sigma Ventures.

This will catalyze the innovation and entrepreneurship that are India's natural strengths, said Bhushan.

According to Kumar Abhishek, CEO and co-founder, Amazon endorsed ToneTag, while the Startup India scheme has definitely brought multiple benefits to startups in the form of easy license clearance, tax cuts and minimal regulatory interference, there are still many possibilities for many. plus. Reform policies

The inclusion of credits for MSMEs is a critical imperative to enable growth and job creation in India, said Alok Mittal, CEO and Co-founder of Indifi Technologies.

We hope that the next budget will define concrete steps to mobilize access to financial services and empower advanced technology companies to provide them, he added.

Companies in the financial sector also felt that the government should focus on generating employment through growth objectives that exceed the last 20 years of performance.

With technologies such as artificial intelligence, machine learning and data analysis that disrupt the very nature of industries, there is an urgent need to improve the qualification and reprimand of Indian youth, said the co-founder and executive vice president of Absolutdata, Sudeshna Datta. .

Therefore, we expect more funds to be allocated for the development of technology-based training and capacity building programs, said Datta.

Dilip Modi, founder and president of DiGiSPICE, said there is a great opportunity to use Aadhaar as an authentication platform to boost financial inclusion in semi-urban and rural India.

Gaurav Jalan Founder and CEO of mPokket, emphasizing that Fintech has the potential to address the barriers to financial inclusion, said there is an expectation of a better infrastructure that encourages and facilitates the digitalization of transactions in rural and remote areas.

This will allow fintech companies to serve underserved segments, which will drive true financial inclusion in India, Jalan added.

Parliament approved a provisional budget for the current fiscal year in February, in view of the general elections held in April and May. Now, with the new government in place, Sitharaman will present the full year's Budget later this week. NKD SVK ANS ANS