Union Budget 2021: Allocation of Rs 1,500 cr to boost digital payments will take fintech sector a higher notch Recognising fintech as an industry would have been much sweeter but overall, it is a 360-degree growth for the fintech sector Raj N February 03, 2021 13:48:10 IST Benefitting fintech. Reuters
A lot was expected from Budget 2021, especially to negate the economic impact of the pandemic. The finance minister has created a fine balance between available resources and requirements to usher in economic growth. Keeping Atmanirbhar Bharat as the keyword, the Budget has spelt out a vision of making India a self-reliant nation.
The fintech industry has been playing a pivotal role in providing financial services to Small and Medium-Sized Enterprises (SMEs) and Micro, Small and Medium Enterprises (MSMEs). The allocation of Rs 1,500 crore to boost digital pay
Bank unions strongly oppose divestment, a bad bank and threaten to strike
Prabhjote GillFeb 3, 2021, 16:15 IST
Banks are threatening to go on strike if the government moves forward with its plan to disinvest public sector banks and Life Insurance CorporationBCCL
The All India Bank Officers’ Confederation (AIBOC) and the All India Bank Employees Association (AIBEA) are not on board with the Indian government’s plans to disinvest stake in banks.
According to them, selling government stake in public sector banks and Life Insurance Corporate (LIC) would threaten the stability of the sector.
Both organisations are threatening to strike if the government moves forward with its plans as announced by Finance Minister Nirmala Sitharaman during the Budget 2021-22 on February 1.Banking unions aren’t happy with the government’s plans to divest stake in public sector banks (PSBs). The All India Bank Officers’ Confederation (AIBOC) released a harshly worded statement opposing the an
Niti Aayog, says there is need for a separate ministry of disinvestment.
I cannot remember a Budget where people are happy because the fiscal deficit is at 9.5% merely because the government has been honest about it. Is the 9.5% fiscal deficit for this year and 6.8% for next year worrying you in any way?
I have been fiscally conservative but in this case I am quite okay with both the numbers. Because of Covid, we had expected that the tax revenue collection would be poor and the expenditures had to be maintained and that is precisely what the government has done and the cheer for transparency has to be there. When people say they are happy with 9.8%, they are partly rejoicing that finally the government has recognised that there are a lot of off-budget items which previously were not included in calculating the fiscal deficit.