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NeoGrowth has received coverage in BusinessWorld Disrupt, in the industry story titled, “Pre-Budget 2022-23 Expectations: What Fintech Industry is expecting”.
Quote by Mr. Arun Nayyar, CEO, NeoGrowth:
“In the upcoming Union Budget 2022-23, we expect to see initiatives that would further strengthen the financial inclusion of MSMEs in India and encourage digitisation. With the third wave upon us, we expect to see an extension on priority sector lending to NBFCs by banks extending credit to underserved and unserved MSME segments. To boost the adoption of digital payments by the MSME sector, we would like to see the introduction of incentives such as tax breaks for merchants who adopt digital payments. For instance: A scheme under which a retailer with digital sales above 75% of all the sales, cash and digital, should incur a lower rate of income tax to accelerate/encourage digital payment adoption. This scheme would help in financial inclusion of small businesses under the formal tax system and help formalize the business transactions.”
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