Overall the budget is well structured. The announcement regarding bridging the digital divide between the urban and rural India is a welcome move. The announcement of allocating Rs 150 core to create world class IT hub in India under the Atal Innovation Mission is very encouraging. Skill development also got a special mention in the budget aiming the youth to be entrepreneurs rather than job seekers. This was followed by the announcement on supporting the startups. For IT sector, this announcement will for sure be a boosting one.
The rationalisation of service tax by including education cess is a good move. The increase will however impact our software sales. The lack of infrastructure development was a concern and it is well addressed in this budget with clear road maps and allocation. This will contribute to the overall development of the country. Reduction in corporate tax is also encouraging. The affirmation in the speech of Finance Minister Mr. Arun Jaitley, addressed the lost confidence among corporate India.