Budget 2019 expectations: IT sector demands measures to spur Make In India, Digital India, smart cities initiatives
IT companies of India are expecting that the upcoming budget will have measures to spur the Make in India, Digital India and smart cities initiatives.
The IT sector has demanded from the Finance Minister Nirmala Sitharaman to announce measures in her maiden Union Budget 2019, which can spur the Make in India, Digital India and smart cities initiatives. The industry insiders are of the opinion that they are expected to get a huge jump in their footfall if the fund allocation for the above-mentioned initiatives are increased by the Narendra Modi government on July 5.
Speaking on the demand from the finance minister Nirmala Sitharaman; KG Prabhu, Chief Financial Officer, DIGISOL Systems told Zee Business online, "Players in the IT Industry are excited about Full Union Budget 2019-20 as this will be the first Budget of Prime Minister Narendra Modi's government after gaining a massive victory in the Lok Sabha Election 2019. We are expecting that the upcoming budget will have measures to spur the Make in India, Digital India and smart cities initiatives. During interim budget, the government allocated 7 per cent more for smart cities compared to last year and I believe more funds would be allocated to the Make In India and Digital India schemes along with Smart Cities Mission." He said that the government of India has announced these initiatives where IT companies have a major role to play. So, any fuel to these programs would help IT companies to register huge footfall and traction in the coming days.
Batting for financial inclusion by increasing awareness about the digital payments Sameer Aggarwal, Founder & CEO, RevFin said, "The government must launch a national education program (like pulse polio or hum do hamare do) to educate the country on benefits of digital payments. This must be done through private partnerships by extending tax benefits to small traders taking digital payments (mentioned in the above quote by DIGISOL). National and state curriculum must also have financial literacy as a subject which should include practical classes taken by financial services companies (another way to get private partnership).