“The Union Budget presentation is the most anticipated activity to take place right before the end of the financial year. The tech vertical has been thriving in India, especially over the last three years. Digital transformation has been taking place at warp speed due to the circumstances that cropped up post-pandemic. We are looking forward to this year’s Union Budget being presented by Union Finance Minister Mrs Niramala Sitharaman on February 1, 2023. The government aims of achieving a $5 trillion GDP by 2025 considering that India is one of the world’s fastest-growing economies and I believe that the Indian tech sector will be a valuable contributor to this growth momentum. There are, naturally, expectations by the tech industry too from the budget.
There is a dire need for the government to form the right industry-friendly policies concerning data sharing, privacy and security. Fighting cybercriminals and formulating the right law against them is of dire need today as there is a looming threat against data privacy and security. Apart from policies, there needs to be expertise and think tanks set up and funds dedicated for the training of the staff in every major government department from the union to the states, to strengthen the cyber cells. The 5G will advance technology by multifold and its tools by multifold, but unfortunately, our infrastructure is not capable of handling a full-fledged advancement including tier-1 cities. The government needs to ensure that the budget needs are set aside and estimated deadlines need to be set to ensure that the overall infrastructure matches the current tech advancement and the future. But a better focus needs to be given to ensure that Tier 2 & 3 cities, towns and even rural areas have better infrastructure that will support the tech advancement and help them match the growth as that of a Tier 1 city. Smart city projects need to be finished and newer cities need to be added to the list that will help us revolutionize the tech industry and the associated verticals. Hopefully, this budget will help us formulate and reach a new milestone,” Prashanth GJ, CEO at TechnoBind Solutions.
