Post-budget 2018 Reaction Mr. Nikhil Rungta, MD, Intuit India

We are delighted about the recognition from the government, MSME’s are indeed a major engine of growth and employment generation. This budget not only provides small and medium enterprises easier access to their working capital requirements but also highlights  the importance of the role of online fintech lending companies. In the last year, while GST has been hailed as a much-needed overhaul of the indirect tax system, many small and medium sized businesses (SMBs) across sectors – services and product alike – are still adapting to the new tax regime . Of the 51 million SMBs present in the Indian market, around 20 per cent are somewhat digital-savvy. Since the government is highly supportive of making India digitally tax-compliant, this budget will help small business by making it easier for them to adopt financial technology solutions that would help them make their tax filings faster and much more convenient.