Budget 2020: The inclusive growth of the country

By Sunil Khosla

"Considering the current ecosystem in the country, the annual financial Budget 2020 is much awaited and expected to relieve most of the financial segments. The budgets of the past couple of years have given some key milestones for digitalization and the coming one is also expected to give it a further thrust. The budget is expected to focus on the inclusive growth of the country which is of key importance at the moment.

It is foreseen that the budget would drive digital growth by continuing the incentivization of the digital payment ecosystem. Additionally, the budget might announce some relevant subsidies and benefits to steer the infrastructural development and innovations in the digital payment ecosystem to keep the momentum going. Tax benefits are crucial for the economic growth of all sectors and to give a boost to the current economic conditions, tax rebates and tax incentives are expected from the budget. These include revised tax slabs for individual taxpayers, a rise in investment limits to reduce the tax burden, more tax benefits for saving instruments and expansion of taxpayer bracket. In addition to this, we hope the budget comes up with some key measures and policies for senior citizens of the country which includes extra benefits and schemes for them. Besides, pension and health insurance should be made more lucrative".

(Sunil Khosla, Head Digital Business, India Transact Services Limited)