Fintech helping tackle black money, low tax-GDP ratio: Rajeev Chandrasekhar

In a jibe that seemed to be directed at China, the Union minister said that India is boosting its digital economy and entrepreneurs at a time when some countries are demolishing their start-ups

Union Minister Rajeev Chandrasekhar said on Saturday that fintech innovations under Prime Minister Narendra Modi’s Digital India initiative, which birthed the Aadhaar and united payments interface (UPI), have accelerated the formalisation of India’s economy that had been plagued by issues such as black money and a poor tax-to-GDP (gross domestic product) ratio for decades.

The minister of state for skill development and entrepreneurship was speaking at the InFinity Forum organised by International Financial Services Centres Authority (IFSCA) and Bloomberg.

In a jibe apparently directed at China’s crackdown on its tech companies, Chandrasekhar said that India is boosting its digital economy and entrepreneurs