Key expectations for budget 2024 from fintech companies

Fintech companies hope the government will balance reforms with fiscal prudence in Budget 2024.

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There is a push to lower the TCS on international transactions from 20% to 1% to ease financial strain on students and travelers.

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An increase in the TCS threshold to 10 lakh is sought, with a call to include credit cards under TCS for fair competition.

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Issuing digital banking licenses is anticipated to enhance financial inclusion, innovation, and streamline operations while reducing costs

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A rise in the Liberalised Remittance Scheme limit to $500k is requested to benefit cross- border transactions.

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Budget 2024 should encourage the adoption of digital banking through tax benefits or subsidies to increase financial inclusion and economic growth.

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Emphasis is needed on funding advanced cybersecurity infrastructure to protect digital transactions and consumer data

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Next: Experts share stock picks and budget day tips

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