Pipeline of reforms
Neeraj Jewalkar, Founder and CEO- Smartur.com
By Neeraj Jewalkar, Founder and CEO- Smartur.com
The Budget in totality looks positive with enhanced focus on fast-tracking growth in Healthcare, IT, Infrastructure and Education sectors. The government has linked many initiatives to support and provide a boost to Make in India. Therefore giving additional attention to startups, the government has introduced a corpus of Rs. 1,000 Cr to support technology led startups and incubation centers. This will further enhance the startup ecosystem in India.
Another significant move is the government’s emphasis on making the country more business and investment friendly. Easing of regulations and focus on increased public sector investments in infrastructure will boost the business environment in the coming year. IT Industry has received a good uplift in terms of reduction in the corporate taxation from 30% to 25% and also reduction of taxes on royalty being reduced from 25% to 10%. Moreover a 150 Cr corpus has been announced to make India a World Class IT hub; which should attract further investments in the sector. Strengthening of the education system through up gradation of primary, secondary and higher secondary education, enhanced funds allocation to the sector and introducing premier institutes in states like J&K, Punjab, AP, Karnataka etc will enable skill development across the country. The budget thus included a good pipeline of reforms which will be implemented in detail and bear fruits in the coming years.