JOIN USUnion Budget 2022: Reactions from IT & ITes sector experts
'The Gati Shakti scheme's focus on sustainable growth and digitisation looks extremely promising'
Kushal Nahata, CEO & Co-founder, FarEye
We welcome the positive steps the government has taken for strengthening and further developing the logistics sector under the PM Gati Shakti plan. Rs 20,000 crore allocated for developing transportation shows that the government is focused on building a robust logistics infrastructure in the country. The expansion of the national highways network, implementation of multimodal logistics parks and development of 100 new cargo terminals will facilitate swift movement of goods, improve pan-India connectivity and reduce logistics costs. The Gati Shakti scheme's focus on sustainable growth and digitisation looks extremely promising. The proposed unified logistics interface platform will accelerate the digitisation of the logistics sector in the country. It will help reduce paperwork and aid better logistics and supply chain management. Indian Railways' One Station One Product plan to provide capable logistics services to farmers and MSMEs will ensure that local businesses overcome the existing bottlenecks in the supply chain.
'Hopeful that tax on crypto will be lowered once its full potential is realised'
Om Malviya, President, Tezos India
We are happy to note that the FM has announced crypto tax provisions in this budget, legitimising crypto transactions in some way. However, it is disappointing to see that the Government has decided that the income from the transfer of digital assets will be taxed at 30 per cent -- which seems to be too high, given that the NFTs, cryptocurrencies and digital assets space is already booming and has immense potential for the economy in the near future. I am hopeful and certain that once the full potential of crypto is realised it will be lowered further.
"The Union Budget 2022-23 is a promising budget and a step forward towards ‘Aatmanirbhar Bharat’"
Alok Dubey, CFO, Acer India
TheUnion Budget announced today showcased the government's initiative towards Digital Transformation. From announcing a Digital University, for online learning to high-quality e-content across languages will enable the youth to skill, upskill and reskill themselves. These programs under digital learning and the connectivity expansion will further strengthen the availability and accessibility of the internet in rural areas.With the government infrastructure spending push, we are likely to see more employment and growth opportunities and enhanced private sector investment in manufacturing. We are confident that the exemption of duty on parts of select electronic items will further boost the domestic manufacturing of electronics goods under the PLI scheme. Overall, the Union Budget 2022-23 is a promising budget and a step forward towards ‘Aatmanirbhar Bharat’.
Key takeaways from FM Nirmala Sitharaman's Union Budget speech
Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2022, the blueprint for 'amrit kal' of the next 25 years, in Parliament, ahead of elections in five states.
In the Union Budget 2022, Finance Minister Nirmala Sitharaman made a slew of announcements outlining the economic growth for India over the next 25 years. Here's what the IT and ITes sector experts are saying about the Union Budget 2022. Stay tuned for updates.