Post Budget comments by Gizmore and Lumenore

(Illustration by C R Sasikumar)
By Mr. Naren Vijay, EVP-Growth, Lumenore
The government has continued focusing on Digital India and building robust digital infrastructure in the country. The announcement to set up three Centres of Excellence for artificial intelligence to enable ‘Make AI for India’ and ‘Make AI work for India’ will strengthen the adoption of AI across various sectors like education and healthcare among others. The introduction of the National Data Governance Policy to enable access to anonymized data will improve the data management framework. The government has recognized the importance of artificial intelligence & data and how it can be used by businesses and the government to bring change.
By Sanjay Kalirona, Co-founder and CEO, Gizmore.
Smart wearables are expected to continue to drive consumer interest with increasing preference for a healthier and modern lifestyle. Technology plays an important role in developing these products with the latest features. The announcement from the Finance Minister to set up three Centres of Excellence for artificial intelligence will boost the infrastructure for AI in the country and its use in smart wearables. Investment in the ecosystem of building semiconductors in India will change the industry scenario from “import led” to “export house” and will make India self-reliant in the component industry. The indirect tax proposals are expected to boost domestic manufacturing and promote exports. In addition, the relief provided to the consumer by direct tax proposals like an increase in rebate limit to INR 7 lakh, increase in the standard deduction, and reduction of the highest surcharge rate will boost consumption levels in the country. Overall, it is a balanced Budget that sets the right tone for the Amrit Kaal.



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