In keeping with the Prime Minister’s initiatives of Make in India and Digital India, I would expect a qualified emphasis in the 2015 Budget on providing incentives to young entrepreneurs and the Information Technology SME sector in the Country.
In the recent past most Government Policy seems to have focussed on big businesses. What India really needs is to address the concerns of the SME sector which employs 40% of the Indian workforce and enable them to compete with firms across the world. Fiscal innovation and administrative support to the India’s SME sector will go a long way in allowing them to compete in an increasingly global market place.
Entrepreneurs in advanced countries have been at the forefront of thought leadership and more importantly, have developed a culture of innovation and creative enterprise in business. India needs to have a plan around a start-up fund to promote similar Digital Entrepreneurship ideas under a panel that comprises creative thinkers and social scientists rather than a convention of bankers and financial analysts.