Post-Budget Reaction by Mr. Ashutosh Modi, Executive Director of EntrancePrime.com
A brilliant, well thought budget for all sections of society and businesses. Measures targeted on black money are very bold and long due. My top picks from the budget – electrification of 20,000 villages, digital India initiative to connect villages with technology, introduction of new IITs, IIMs and other premier institutes of higher learning, ensuring a senior secondary school within 5 KMs reach for every child, 1000 Crores budget for promoting technology startups, reduction of tax for royalty fees on technology services, initiatives like Nayi Manzil & Pradhanmantri Vidya Laxmi Scheme to promote education & skill development in India, Reduction of corporate tax by 5% over 4 years.
However, execution and enforcement plan for influx of larger funds in schemes like MNREGA will be interesting to read. As expected, increase in service tax to make way for GST will be hard of Indian pockets. We were expecting a reduction in ROI for Education loans, however, some of it is taken care of with Pradhanmatri Vidya Laxmi Scheme.
Looks like an immensely progressive budget on face value, as an Ed-Tech company we see some really good opportunities coming out of this budget, look forward to details and execution plan.