Fintech capital gets crumbs in an election year

Trillion $ economy? Dream on

- Ravikiran Deshmukh

While the state was expecting a major push in the Union Budget presented on Tuesday, especially after Prime Minister Narendra Modi’s recent visit and his desire to make Mumbai the fintech capital of India – the figures in the Budget say otherwise.

‘‘Financial provisions announced for various ongoing projects in Mumbai particularly failed to meet minimum expectations’’ was the stock reaction in bureaucratic circles.

Though Chief Minister Eknath Shinde and Deputy CMs Devendra Fadnavis and Ajit Pawar expressed satisfaction at the budgetary provisions of around Rs 7,545 crore for infrastructure – a major part of it will go to rural areas and other projects, leaving just a minimal amount for the Mumbai Metropolitan Region (MMR).