Budget Expectation Quote from Harshil Mathur , CEO and Co-Founder, Razorpay

Harshil Mathur, CEO and Co-founder, Razorpay said, “What is remarkable is that there’s been a consistent push towards a digital-first economy. The government’s initiatives and measures to deepen digital payments in the country have been fairly positive. That said, the economy still needs a lot of push – I think this budget should primarily focus on increasing consumer spending, this is our biggest challenge. And if this continues to remain so low, it can create a negative outlook on the ecosystem. The reduction of taxes and incentivisation of consumer spending through GST and personal taxes could help put the speed of our economy back on track. We also expect the budget to bring in some good news for the employees at startups. The introduction of some tax relief on ESOPs and charging tax on the liquidation of shares allotted under ESOP, instead of charging the employees on exercising their ESOPs will be very beneficial.”

He added, “While the government has been encouraging digital payments with constant efforts, three areas that need some attention are, first, some sort of direct incentives for businesses to accept digital payments, second is improved infrastructure for better internet connectivity in tier-2 and tier-3 places and lastly, a framework for customers to gain trust and assured safety in making transactions online. The steps taken by the government have been working in the favour of all of us until now and I hope it continues to do so to improve and increase digital payments.”

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