The Union Budget of India for FY 2020–21 will be presented by Finance Minister, Nirmala Sitharaman on Saturday, 1 February 2020, a quote from Diwakar Nigam, Chairman and Managing Director, Newgen Software
for Expectations from Budget 20-21.
"The Indian IT sector provides significant opportunities for growth. The government can further incentivize organizations creating software intellectual property through tax exemption on IT exports. We expect that the government would bring in more business-friendly policies and take steps to reduce regulatory compliance, thereby creating a holistic environment for ease of doing business.
As data security, privacy and compliance become increasingly critical, the government should encourage the private sector to set up data centres in the country. The government should also continue its thrust towards various initiatives, namely Digital India, Skill India, Make In India and emphasize on technologies that encourage digitization and creation of rural e-infrastructure.
Sustaining the global competitiveness of the Indian IT sector will require increased government investments in skill development for the new-age technologies such as artificial intelligence, big data analytics, robotics, and blockchain. Reintroducing the SEZ scheme and streamlining the current SEZ processes, will give the required boost to the IT industry and provide a more conducive business environment. The labour laws governing the IT sector also require streamlining owing to its unique requirements.”