Union Budget 2020: Reactions from IT Industry Experts

Prashanth G J, CEO at TechnoBind

“The budget this time looks very encouraging. Among other things two areas stand out for me. Firstly the FM’s specific mention on recognising new disruptive technologies being an integral part of the economy is very welcome – this will give boost to players like us who are focused on Data and other new gen sectors like Fintech and IoT. Secondly the acknowledgement of liquidity crunch as a problem area and the eventual measures to alleviate this by the focus on NBFC sector and their lending prowess will go a long way in helping improving the business climate in the country.”

                                                                                                                                Ashis Guha, CEO at RAH Infotech

“All in all the Union Budget 2020 is a welcoming step towards enhancing India’s Digital Ecosystem. Significant investments in the space of cybersecurity, electronics manufacturing, and promotion of IT and IT- enabled services is indeed a great move. The corporate tax cut and benefits derived by new companies, along with improved GST collections, will increase the revenue generation. Initiatives like data center parks across the country, increased focus on BharatNet and National Mission on quantum technologies will boost employment, address skill shortage issue and definitely attract global investments to boost the overall economy. Overall the budget has fulfilled the aspirations of all, from common man to a business tycoon,”

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