Fintech being driven by startup revolution, says Nirmala Sitharaman

Union Minister of Finance and Corporate Affairs Nirmala Sitharaman said the National Education Policy (NEP) demonstrates India’s strength.

“The next 25 years will be Amruthkal for India,” she said while delivering the address at the 36th convocation of TAPMI in Manipal on Saturday.

The government is working on long-term plans for the country’s growth. The country will be proud of its digital technology, educational technology, digital management and banking expertise, she said.

The financial, educational and future links are leading the country towards becoming Vishwa Guru. The policy nomenclature is geared toward making dreams a reality, she added.

The budget has announced the setting up of a digital university to provide access to tools across the country for world-class universal education, with a personalised learning experience at people’s doorsteps. It will focus on the technological revolution, which ensures quality education through technology, digitalisation, optical fibres and the internet, she said.

Hailing fintech, the Union minister said that startups are making a significant contribution.

“Fintech is being driven by the startup revolution,” she said.

The minister also elaborated on ‘Gift City’, an initiative of Gujarat.

Individuals can contribute to physical or digital educational institutions without the involvement of UGC or AICTE. There are also many opportunities for qualified teachers and practitioners, she said.

The minister said that central banking-driven digital currency will be introduced by RBI.

“We do not want to miss out on the opportunity to be digital currency leaders. It is a component of distributed ledger technology that is available and being used to benefit the Indian economy,” she added.

As many as 75 digital banking units were opened to commemorate India’s 75th year of Independence.

The Union minister said that the digital revolution will also benefit a layperson who is unaware of his land records. Drone technology will be used to digitally map the land, ensuring better security for the poor.

The government’s initiatives will contribute to growth and development, transforming India into a world leader, she emphasised.