We will call this a pro-Industry budget from IT industry’s perspective. The biggest announcement being the reduction of corporate tax for MSME’s from 30% to 25% for companies with a turnover of 250 crores is a welcoming move. This will benefit around 90% of Indian firms and will help generate additional revenue. The Government’s push for cybersecurity is also one of the most awaited measures.
The boost to infrastructure and telecom sector with a gentle push to Digital India will incentivize the IT industry. The Government’s support for the use of blockchain will open gates for many new players as well as increasing the competition in this sector. Also, its commitment to research in areas such as Artificial Intelligence, big data and machine learning will assist the IT industry further.
@Technuter.com News Service