S Sriram, Chief Strategy Officer at iValue InfoSolutions
“It was a consistent and pragmatic budget with a lot of thrust around infrastructure spending to enhance growth. Despite multiple elections around the corner, great to see no populist announcement with focus on reducing fiscal deficit starting next fiscal. 5G rollout and extension of sops around “make-in-India” for new start-ups should augur well for the tech enabled industry. Central Government focus around Digitization will offer business opportunities for domestic focused ITeS players with the Government taking the lead role on capex investment recovery post pandemic. Overall exciting times ahead as India is poised to be the fastest growing economy for the next few years.”
Rajendra Chitale, CFO at Crayon
“India’s General Budget 2022-23 introduced several measures ranging from taxation to investment to help boost the country’s economic activities, digital governance, ease of doing business, creating jobs, and ensuring the country’s transition to a digital economy. The budget promotes technology-enabled development, energy transition, public-private partnerships, skilling, and climate action, along with the use of emerging technologies.
The news on the 5G roll-out is commendable as it will be a key enabler for digital growth and development in the country. Also, glad to see that the government is focusing on expanding the digital horizon in the country. This shall encourage continuous skilling avenues, sustainability, and employability through online training programs, and simulated learning environments using e-labs. The budget also focuses on emerging technologies, such as drones, deep tech, fintech, health tech, and Ed-tech, highlighting India’s commitment to exploring change and innovation.”
Prashanth G J, CEO at TechnoBind
“It is commendable that the government in the new budget is coming up with modern and progressive concepts like trust-based governance. This is in the best interests of both the society and enterprises. It will also help in building more coordination between the government and enterprises, and provide more empowerment to enterprises, and certainly help with the ease of doing business.
Also, the 5G roll out will open the gates for aggressive digitisation in the country which will help the Indian IT landscape to expand further in all tier markets. Better internet connectivity will ramp up digitisation making inroads for datafication and AI-based technologies. We can expect the IT expansion to go pan-India and new avenues of digitisation will see light in the coming year.”