Budget Wishlist 2019: MobiKwik boss banks on inclusive financial growth for all segments of society

In the past few years, digitalisation of financial services has taken the front seat in the growth of the Indian economy.

As far as the FinTech industry is concerned, Finance Minister Nirmala Sitharaman has big shoes to fill on July 5 as she gets ready to take up her new role and present the Union Budget.

While Upasana Taku, Co-founder of MobiKwik, believes initiatives like Digital India and Make In India have put the nation on a digital innovation fast-track, she expects PM Narendra Modi government to give a further thrust to the digitalisation of financial services for this year's Budget.


"The FinTech industry needs a push in infrastructure investment, capital availability, digital payments incentives, and regulatory policies for the sector to succeed," Taku says.

The payment system and digital wallet company top boss wants the government focus on the under-banked population, and enable them by offering affordable and accessible financial services like loans and investment products. She is confident that the benefits of the digital services value chain will help the under-banked people to save, transact, make and receive payments, access credit, and insure against vulnerabilities. "The lack of affordable financial services often sets them on a road to failure and keeps them in a vicious cycle of dependency," she added.

Taku wants this year's Budget to focus on promoting inclusive growth by catering to the diverse financial needs of various segments of the society.