The government announced major initiatives for the rural enhancement in this budget. Sharing with you the budget reaction from Mr. Ketan Doshi, Managing Director, Pay Point India Network., a fast moving consumer services company and a prepaid payment instrument (PPI) licence holder.
“The budget has set out a clear direction by focussing on enhancement of masses, entrepreneurship, digitisation and resolving tax issues.
Amidst the global uncertainty, the government seems to have focused on building a strong foundation which will help drive rural consumption and thereby facilitate overall economic development. Initiatives such as technological penetration in Farm Produce Marketing, pumping Money into MGNREGA, Skill Development, and Encouraging Start-ups have been consciously targeted to drive growth at the bottom of the pyramid. The use of technology initiatives like E-Marketing of farm products, Digital literacy mission etc. will further Digital India movement. There is a lot of emphasis on boosting entrepreneurship by enabling there Funding needs, Skill development programs, creating depository for employee with their education records. This will also open huge opportunities of job creation. For a Business like ours with a strong presence in rural markets, the budget has opened new avenues for the future.” We see huge growth in Financial Inclusion services and digital payments businesses.