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India’s Interim Budget bets big on digital technology

Feb 02, 2019

Various digital schemes like Jan Dhan, Aadhaar mobile, and direct benefit transfer are being seen as game changers for realizing the benefit of technology.

New Delhi: The last budget by the Narendra Modi government is being seen replete with populist measures wherein efforts have been made to please various sections of the society. OneWorld South Asia brings reactions of various organisations including India Inc to the interim budget.

Anant Raghute, MD, Innowave IT Infrastructures

India’s economic growth is pegged at 7.2% to 7.5% in 2019 and 2020. As per the Interim budget announcement today, India is aiming to become a $10 Tn economy in the next 8 years & $5 Tn economy in the next 5 Years.

We welcome the decision to make 1 lakh villages digital in the next 5 years. This combined with Jan Dhan, Aadhaar mobile, and direct benefit transfer will be game changers for realizing the benefit of technology in delivering better governance. Potential rolling out of NTP 2018 will further enhance telecom operated citizen services.

Emerging technologies such as AI, block chain, GIS enabled services, LIDAR will facilitate connectivity. While physical infrastructure is key, integration of technology for practical use can only be facilitated through central policy initiatives with parallel initiatives from state governments.

GIS enabled citizen centric services have already enabled better data management & access right from disaster management, Health, agriculture, water management, public transport, Bio tagging to rural & urban infrastructure.

Now that the momentum on e-governance is there and the citizens are experiencing the benefits out of it, believe the time is ripe for the next big wave of investments in e-governance across India. We at Innowave IT are more than happy to do our bit in making this happen and ensure delivery of the right and most effective solutions when and where needed.”

Parag Agarwal, Founder & CMD, Janajal

As expected, this is a positive Budget with several announcements for the social and economic welfare of the country in the long term, much in line with the Government’s intention of a “New India” by 2022. It is heartening to see safe drinking water to all Indians as part of the Government’s plan by 2030.

Water ATMs have a big role to play and can help achieve this vision much sooner. Safe water made accessible to people in a decentralised format such as water ATMs can have a force multiplier effect on the Government’s intentions through good health and wellness besides job creation and social entrepreneurship.

Ramratthinam S, CEO, Muthoot Homefin (India)

The disposable income of EWS and LIG category borrower will increase with the exemption of tax on annual earnings upto Rs. 5 lakh and also increase in standard deduction by Rs. 10,000. The developers for new projects are also incentivise with the Income Tax exemption available till 2020 thereby keeping the prices in check.

The housing demand will witness good uptick with measures like no income tax on notional rent on 2nd self occupied home and also capital gains benefit allowed on second houses in select cases.

Pavan Choudary, DG MTaI

By bringing Health and Artificial Intelligence together on the agenda the Government has set a very progressive Human Resource tone. The national program on AI should be unfolded by co-opting knowledgable stakeholders from the 9 domains that are being targeted.

The AIIMS announced in Haryana is welcome. All the AIIMS in the making, including this one, should be monitored for speedy commissioning.

The commitment to pursue progress in Medical Devices as almost a mission, is heartening and is reflective of this government’s understanding that this sector is of keystone importance.

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