With India having more than 50 million SMEs, the 2019 budget seems incredibly promising for further augmenting their growth and development. Also, with the Government announcing the establishment of an online portal to enable filling of bills for MSMEs, this has the potential to materially impact the SME landscape in India. Additionally, by offering credit of up to Rs. 1 crore within an hour for SMEs, will enable businesses to increase investment in R&D, upskilling and bringing in technological innovations to work. Government’s efforts to improve the skills of our youth in newer areas such as Artificial Intelligence, Big Data and Robotics will definitely help the Indian IT services sector to ride on the digital transformation wave. Lastly, the announcement of easing angel tax on start-ups has also given relief to the startup community. All of these initiatives will truly be a game changer for the Indian economy and ensure the country achieves its target of becoming a $5 trillion economy by 2025.
- Post Budget 2019 Reaction by Mr. TILAK RAJ DUA, DIRECTOR GENERAL, TAIPA
- Post Budget 2019 Reaction by Mr. Kishan Jain, Director, Goldmedal Electricals