Unlocking the Interim Budget: TOI’s Right To Excellence Budget Masterclass

New Delhi February 3, 2024: Finance Minister Nirmala Sitharaman‘s sixth consecutive budget presentation, the last one before the General Elections, has concluded. Breaking down the complexities and deciphering the budget’s profound impact, the Times of India proudly introduces its annual flagship property, the Right to Excellence Budget Masterclass. The event will feature Amitabh Kant, former CEO of Niti Aayog, known for his insightful perspectives on economic matters.

Taking place on February 5, 2024, in Delhi, this masterclass is set to unite policymakers, experts, and finance gurus to decode the pivotal announcements made by the Finance Minister.

Prasad Sanyal, Business Head, Times of India Digital, said, “We hope this Budget masterclass helps people understand the impact of the announcements made by the Finance Minister. It’s essential for individuals and businesses to stay informed about the budget’s implications. Our Budget Masterclass will provide valuable insights and analysis to help people navigate the potential impact of the Union Budget on their personal and professional finances.”

  • Here’s an overview of the sessions that will be part of the Masterclass:
  •  Navigating Tax Changes: Understanding the implications of introduced tax changes and their impact on personal finances.
  •  Fueling Growth: Exploring strategies outlined in the Budget to foster economic growth.
  •  Sector Spotlight – Revolutionizing the Automobile Sector: Gaining Expert Insights on How the Budget Will Impact the Auto Industry.
  •  Fireside Chat: Budget Planning for Businesses: Delving into how businesses can strategically plan decisions in alignment with fiscal policies.
  •  Fireside Chat: Revolutionizing the Automobile Sector – Innovations, Sustainability, and Future Trends: An in-depth expert perspective on how the budget will shape the future of the automobile sector.

Shashank Srivastava, Sr. Executive Officer, Marketing and Sales at Maruti Suzuki India Ltd, one of the key panellists on the Masterclass, said, “I am very excited to be a part of TOI’s Right To Excellence Budget Masterclass. Today, I will be talking about the blueprint that the interim budget has provided the industry at large to sustain India’s economic growth. Furthermore, I will also discuss the budget’s impact on the auto sector, what measures need to be taken to continue the growth momentum in the sector, and future trends.”

Budget 2024 Expectations from Fintech Sector

Gaurav Jalan, CEO & Founder

Mr. Gaurav Jalan, Founder & CEO, mPokket

“In India’s dynamic fintech landscape, 2024 promises a revival of business growth and steadfast support for advanced technologies. As the interim Budget for the fiscal year 2024-25 approaches, scheduled to be presented by Union Finance Minister Nirmala Sitharaman on February 1, 2024, we anticipate that the Interim Budget will align with the industry’s expectation for continued momentum in financial inclusion and innovative lending solutions for MSMEs and the Indian youth.

Whether it was improving business fundamentals, adapting to revised regulatory norms, or braving the funding winter, fintechs have displayed tremendous agility and fortitude in managing these challenges. We are optimistic about the measures that will propel the growth of India’s fintech segment. Our primary hope revolves around a strategic focus on fostering financial inclusion, particularly in Tier 2, 3, and 4 cities, underpinned by the establishment of a robust trust-based lending ecosystem. We also await initiatives that will standardize lending practices and encourage collaboration between banks, notably Public Sector Banks and fintech firms.

The Budget is expected to highlight the importance of expanding digital public infrastructure, such as Account Aggregator and OCEN, to facilitate broader financial inclusion and unlock more data for intelligent lending practices.

Given the pivotal role of fintechs in driving the start-up ecosystem’s growth in the country, we look forward to a supportive fiscal policy approach that enhances the attractiveness of investments in this segment. Moreover, the Budget could create an enabling environment for sustained innovation and the digital delivery of services by the fintech industry, positioning it for the predicted dominance over traditional bank lending by 2030. Finally, we also anticipate a nuanced, supportive approach towards ESOP taxation and fostering talent retention.”