By Kunal Shah
“Our hope from the 2020 Union Budget is that Government of India will create frameworks to encourage credit literacy and ensure consistency around government policies. India at present is at the cusp of economic transformation, and we are grappling with a paradox between ambition and reality. Our ambition is to be a USD 5-trillion economy, while the reality is that under 90% of our population makes less than Rs 12,000 (USD 170). The bridge between reality and ambition is comprised of three pillars: enablement of consumption to drive demand, investment to create wealth, and healthy financial habits to manage wealth. Investing in expansion of credit literacy will result in smarter investments with better benefits among individuals, thus contributing towards the healthy economic development of the country.”
(The writer is Founder & CEO, CRED)
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