Quote by Ms. Seema Prem, CEO and Co-Founder, FIA Global – “We are hopeful that the government focuses on capturing the lost ground on growth in FY21/22. Increased spending, putting money into the hands of people for reviving demand should be the focus rather than fiscal consolidation. With this budget, a lower corporate tax rate for FY 21-22 would be considerate. This will help MSMEs bear the fallout of reduced business sentiment due to covid and help increase liquidity. Speaking from the investment angle, capital gain taxes and taxes on dividends should be removed to attract investments. Government should define policies for encouraging co-origination between banks/NBFCs/MFIs with Business Correspondents to enable burgeoning credit to MSME sector.”
About FIA Global –
FIA is an impact fintech that is redefining the way financial services are distributed to low income customers in South Asia. FIA’s AI powered fintech platform FINVESTA aggregates, designs and delivers sachet financial products to rural customers. FIA has one of the largest rural digital banking infrastructure serving 36 million customers through our 27,000 inclusion centers. Our goals integrate with the United Nations Sustainable Development Goals, contributing to 7 of them directly. FIA has been recognized by the World Bank, USAID and DFID for our transformative work in financial inclusion in India. FIA’s contribution in leveraging our extensive rural network for cash transfers during the pandemic has been highlighted in the Gates Foundation’s Goalkeepers Report 2020.
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