<p><em><b>By Manish Patel,</b></em></p>.<p>Small retailers and kiranas were instrumental in growing the share of digital payments in India and in providing easy payment solutions to their customers since the onset of Covid-19.</p>.<p>The Budget provision of Rs 1,500 crore to incentivize digital modes of payments comes as a recognition of these very efforts and will go a long way in encouraging Small and Medium Enterprises (SMEs) to switch to accepting digital payments.</p>.<p><a href="https://www.deccanherald.com/business/union-budget/budget-2021-live-fm-nirmala-sitharaman-modi-parliament-budget-speech-income-tax-slabs-budget-2021-announcements-coronavirus-privatisation-divestment-945745.html" target="_blank"><strong>Budget 2021 Live on DH</strong></a></p>.<p>The announcement by the Honourable Finance Minister Nirmala Sitharaman has met the industry’s expectation of providing financial incentives that enable small businesses to adopt digital solutions.</p>.<p>As India’s largest POS acquirer and end-to-end digital enabler of SMEs, Mswipe sees this as a great boost for digital payments infrastructure as well as growth in share of small businesses in online commerce.</p>.<p>Further, the Budget allocation of Rs 15,700 crore to support the Micro, Small and Medium Enterprises (MSMEs), which is more than double of this year’s Budget estimate, is also a positive step.</p>.<p>Similarly, the proposed development of a world-class fintech hub at GIFT-IFSC is yet another effort in the direction of placing India as a leading innovation ecosystem on the global fintech map.”</p>.<p><em>(The author is Founder & CEO at Mswipe)</em></p>
<p><em><b>By Manish Patel,</b></em></p>.<p>Small retailers and kiranas were instrumental in growing the share of digital payments in India and in providing easy payment solutions to their customers since the onset of Covid-19.</p>.<p>The Budget provision of Rs 1,500 crore to incentivize digital modes of payments comes as a recognition of these very efforts and will go a long way in encouraging Small and Medium Enterprises (SMEs) to switch to accepting digital payments.</p>.<p><a href="https://www.deccanherald.com/business/union-budget/budget-2021-live-fm-nirmala-sitharaman-modi-parliament-budget-speech-income-tax-slabs-budget-2021-announcements-coronavirus-privatisation-divestment-945745.html" target="_blank"><strong>Budget 2021 Live on DH</strong></a></p>.<p>The announcement by the Honourable Finance Minister Nirmala Sitharaman has met the industry’s expectation of providing financial incentives that enable small businesses to adopt digital solutions.</p>.<p>As India’s largest POS acquirer and end-to-end digital enabler of SMEs, Mswipe sees this as a great boost for digital payments infrastructure as well as growth in share of small businesses in online commerce.</p>.<p>Further, the Budget allocation of Rs 15,700 crore to support the Micro, Small and Medium Enterprises (MSMEs), which is more than double of this year’s Budget estimate, is also a positive step.</p>.<p>Similarly, the proposed development of a world-class fintech hub at GIFT-IFSC is yet another effort in the direction of placing India as a leading innovation ecosystem on the global fintech map.”</p>.<p><em>(The author is Founder & CEO at Mswipe)</em></p>