Union Budget 2021: 'Fintech industry needs support'

Union Budget 2021: Fintech industry needs support, says Scripbox Co-Founder

Representative image. Credit: iStockPhoto

Prateek Mehta

The lockdown brought a lot of important and people-intensive sectors of our economy - such as hospitality, infrastructure, construction and automotive - to a sudden pause. So I hope there's a focus on these sectors, as well as a boost to retail and services, for e.g., malls, restaurants and multiplex chains, as they are yet to meaningfully recover even post the last unlock.

The FinTech industry needs support for creating newer offerings for specific slivers of the Indian economy. We continue to have strong regulatory oversight across all aspects of the financial services industry. Additionally, startups would need a regulatory sandbox that encourages innovation and experimentation.

(The author is Co-Founder and CBO, Scripbox)