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Removed Angel Tax, taking policy measures to promote fintech sector: PM Modi

Economic TimesEconomic Times · 2m
Removed Angel Tax, taking policy measures to promote fintech sector: PM Modi

Prime Minister Narendra Modi addressed the Global Fintech Fest, highlighting the government's efforts to support the fintech sector through policy changes such as the removal of Angel Tax. He stressed the need for regulators to take action against cyber fraud, which can harm startups. Modi praised fintechs for promoting financial inclusion and combating the parallel economy. He mentioned initiatives like the Digital Personal Data Protection Act and the allocation of funds for research and innovation. The Prime Minister also commended the role of digital technology in bringing transparency to the Indian economy, citing examples such as Direct Benefit Transfer and the success of UPI in enabling accessible financial services.

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