Post Budget Reaction by Mr. Sanjay Goyal, Vice President and Head (PRODUCT AND TECHNOLOGY),TECHGIG

The Interim Budget has made some cheer-worthy announcements with respect to income tax rebates for individuals with income of up to 5 lakh and increasing the standard tax deduction cap for salaried class and pensioners. This move, keeping the election in mind, shows that the government is trying to bring some relief to the middle class.

The Budget holds immense promise for the IT sector. It is reassuring to note that the government recognizes the digitisation wave sweeping through the world and envisions a ‘Digital India’ as per its Vision 2030 and the National Programme on Artificial Intelligence. The government adopting technology itself speaks volumes about its resolve; be it digitisation of export-import transactions, or indigenously-developed technology in Indian Railways, or an increasingly tech-savvy Income Tax department.  

The employment scenario in the IT sector holds potential because of the rising demand in digital infrastructure likely in the next few years. The Make in India programme is already transforming the IT sector slowly and we can see several start-ups that have mushroomed in the country. In addition, the government’s plans for an artificial intelligence portal to harness AI in various sectors is something to look forward to.

@Technuter.com News Service