Union Budget 2019 supports India in its technological revolution: Dr. Rishi Bhatnagar

The GOI needed focused efforts on building state-of-the-art facilities and bring reforms in the education ecosystem. The new budget initiatives positively address the skill gap problem.

Jul 05, 2019 10:07 IST India Infoline News Service

Dr. Rishi Bhatnagar, President-Aeris Communications & Chairman IET IoT Panel India “The union budget 2019 supports India in its technological revolution where artificial intelligence along with IoT and big data are going to play a major role. The FM proposed to establish a National Research Foundation (NRF) which we believe will help the Indian workforce to skill/upskill and meet the industry demands in the technology space. Trained workforce on AI, IoT, Big Data, which are valued highly both within and outside the country; helping in creating more jobs and bridging the 15 million unemployment gap. The GOI needed focused efforts on building state-of-the-art facilities and bring reforms in the education ecosystem. The new budget initiatives positively address the skill gap problem.
 
The future is electric with EV the best option for sustainable development. However, the low demand and high cost are arresting its growth in India. Government being the largest enterprise of a country, the adoption push needs to come from them. While the GST reduction from 12% to 5%, and an additional rebate of Rs1.5 lakh of interest on loan for EV purchase is a welcome move, the FAME 2 scheme will only reap benefits when the GOI is able to create sustainable demand, bring down the cost of manufacturing with ‘Make in India’, and build infrastructure for EV charging stations the way we have petrol pumps today. Therefore, while a lot of efforts have gone in for bringing the policy, there’s a lot more to be done to make EV sustainable and a success story in India.
 
Snehashish Bhattacharjee, Global CEO, Denave “The budget, overall, is positive and covers the entire gamut of economic pillars in one go - farmers, youth, start-ups, women, middle-class segment, health society, green energy etc. Extending the 25% corporate tax applicability to INR 400 Cr turnover companies (pretty much 99.3% of the organizations in the country) is in line with the commitment of this government to reduce corporate tax across segments. The FM, acknowledging the angel tax issue will give a boost to the start-up ecosystem, which will set our course towards nurturing the camaraderie of technology and innovation. It shall also prove to play a pivotal role in boosting and increasing employment opportunities. Further, the Gaon Gareeb & Kisan forum will help in improving the quality of life at the grass-root level.  The budget will serve the country with an environment to grow and experience the best, with the entire gamut of economic verticals coming together to bring India’s vision into reality.”

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