Budget should have tax benefits for fintech startups: BharatPe CFO

“Fintech has witnessed fast-track growth and expansion, driven by new-age technology over the last few years. By 2030, it is anticipated that the Indian fintech industry will generate $200 billion in revenue and $1 trillion in AUM, as per an industry report. Today, UPI has emerged as a de facto payment medium for millions and digital lending is also gaining acceptance across established as well as emerging cities. I believe that the fintech industry should be given additional benefits of tax deductions which are available for SMEs, so as to aid growth. Tax benefits and incentives will encourage fintech startups to focus on innovation, and invest in research and development to build new disruptive products.