Quote from Mr. Naveen Surya – MD, ItzCash & Chairman, Payments Council of India
“We welcome various measures to promote digital economy announced in the new budget by our honorable Finance Minister:
Measures like exemption of import duty on all types of PoS devices, additional 10 & 20 lakh POS terminals, No service charges on IRCTC bookings and incentivization schemes on digital payments for merchants, along with ban on cash transactions above INR 3 Lacs will provide a huge boost to the country’s digital payment revolution.
Also as per recommendation of the Dr. Ratan Watal Committee - creating a Payment Regulatory Board (PRB) within RBI is a great start and we believe additional direction towards bringing parity between physical cash and digital payment transactions, along with 'Interoperability' and access to a unified payment infrastructure with absorption of merchant discount rates by the government allowing non-bank PSPs to directly access payments systems of (RTGS & NEFT) would also follow soon.”
Union Budget 2017 by Mr. Dewang Neralla, MD & CEO, Atom Technologies:
“Special Focus on digital payments in the union budget and acceptance to specially look into the various committee recommendations on digital payments is a welcome step. Tax breaks on the POS devices as well as other devices will hopefully ensure affordability for the devices and help foster better penetration for digital payments” said, Mr. Dewang Neralla, MD & CEO, Atom Technologies
Union Budget 2017 by Mr. Deven Mehta, Managing Director, Smart Card IT Solutions Ltd., India’s largest manufacturers of smart cards
“Overall it is a growth oriented budget with the government undertaking multiple measures to provide the necessary impetus to the economy. Abolition of FIPB is one such encouraging measure which will enhance the ease of doing business in the country.
Government’s decision to launch Aadhaar based smart cards with health information for senior citizens is one big constructive step which will help millions of senior citizens. India is one of the few countries which lacks a secured national identity card. I feel going forward we will see all Aadhar cards being converted into chip based smart cards thereby enhancing the safety and security of one’s identity and information.”
Post- Budget Expectation by Tamaal Roy, CEO, Biomatiques Identification Solutions Pvt. Ltd
“The Union Budget 2017 is a significant move to push digital payments. The biggest highlight from the technology perspective is the exemption of components from taxes to encourage domestic manufacturing of these devices by providing exemptions like BCD (basic custom duties), excise duties, CVD (countervailing duties), SAD (special additional duty) on miniaturised card readers and mPOS micro atms, finger print readers, scanners and iris scanners. The 2017 Budget has opened the doors that will allow people to avail long term benefits of digitalisation and make digital transactions more safe and secure. Incentivising Iris based authentication can go a long way in embracing the digital way of life.
Schemes such as Aadhaar Pay for people who don’t have mobile phones, cash back scheme for merchants, Aadhaar-based smart cards with health details for senior citizen etc will reemphasise government’s approach towards making India a more cashless economy,” said Mr Tamaal Roy, CEO, Biomatiques Identification Solutions Pvt. Ltd.
Budget quote by Shilpa Divekar Nirula, CEO, Monsanto India Region
Budget Quote by Monsanto India | Ms. Shilpa Divekar Nirula, CEO, Monsanto India Region on Union Budget - 2017-18
Ms. Shilpa Divekar Nirula, CEO, Monsanto India Region on Union Budget – 2017-18.
“The Union Budget 2017 has focused on India’s agriculture sector and the country’s farmers to drive growth in rural India while continuing to propel the nation’s economic engine.
Credit is an important input to improve agricultural output and productivity and attempts to expand farm credit across rural India is a welcome move. In addition, increased facilities for irrigation through the “Pradhan Mantri Krishi Sinchai Yojana”, a dedicated irrigation fund, augmented access to crop insurance under the “Pradhan Mantri Fasal Bima Yojana” are admirable interventions aimed at doubling farmer income. Irrigation and farm credit remain key pillars that will strengthen farm productivity, help in managing risks and maintain the uptrend in the agriculture sector’s growth.
We look forward to effective implementation of these announcements and remain confident that the government will enable a policy environment which will keep the best interests of India’s farmers in mind.”
About Monsanto India
Monsanto is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. It is focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of world's natural resources such as water and energy.
In India, Monsanto India’s vision is to partner the nation and its farmers in their quest towards prosperity and progress through its high-yielding DeKalb corn, Seminis vegetables and Paras cotton seeds; in-the-seed insect protection Bollgard Bt cotton biotechnologies; on-ground farmer extension and mobile-based farmer AgVisory® services offering customized crop management recommendations from sowing to harvest. Monsanto India’s Public Private Partnerships with six State Governments benefit over 1,75,000 farmers and sustainable agriculture programs with NGO partners benefiting 10,000+ small and marginal land holders.
Monsanto India is also amongst India’s Best Places To Work®, ranked among India’s Best Employers, and/or Great Places To Work in India ten out of the last eleven years.