Pre-Budget quote- Absolutdata

Being a technology service provider, we are eagerly waiting for the Union Budget 2019. We expect the government to bring in new SOPs aimed at driving the growth of this sector. Although the Modi-led NDA has taken several initiatives to address the massive skill gap that India continues to face, we believe there’s still room for improvement. With technologies like artificial intelligence, machine learning and data analytics disrupting the very nature of industries, there is an urgent need for upskilling and reskilling the Indian youth. Therefore, we hope more funds will be allocated towards the development of tech-based skill-building and training programmes. Other than that, the government should consider easing the ECB (External Commercial Borrowing) norms to ensure start-ups have a steady inflow of capital from foreign investors. This will facilitate the growth of early-stage tech start-ups, which often suffer due to fund shortage. We are also seeking tax relaxation from the forthcoming budget. Moreover, we want the government to bring down the Minimum Alternate Tax (MAT) charged on SEZ developers from 18.5% to 12-15%. It was imposed in 2013, and it’s about time that the government brings forward a more favourable policy.