“The budget has introduced new avenues for digital payments, skill development and taxation which will help the us to continue our growth curve. We see an opportunity in hiring well equipped talent in 2017 given the heightened focus on providing market ready skillsets to the youth of the nation. With the GST Council finalizing recommendations, its implementation as per the deadline will most likely result into a lower service tax rate & ease the way we do business in India and create ground for innovation. This will definitely help in IT penetration and also increased uptake amongst SMEs.
The budget also continued to focus on both physical and digital infrastructure, but was limited to new developments in the digital payments segment rather than the government’s earlier aim to establish a comprehensive digital depository. Additionally, the Government eMaketplace initiative was also given a miss – something that was established to bring greater transparency & efficiency in public procurement last year. On a positive note, we see the government’s remonetisation efforts lower borrowing costs and increase the access to credit to businesses and individuals alike. Overall, it is a progressive budget, something that the Indian Information Technology industry can build on in the coming months.”
