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Union Budget 2017 – 2018 And What It Means for The IT Industry and Startups




The Union Budget is India’s most awaited, and often the most debated, policy announcement. 

Industry leaders and economics experts lay threadbare the provisions and their likely impact, live on television channels. Stock-markets respond immediately and everyone tries to figure out what the budgetary proposals would translate to. Later, as the dust settles, some finer points emerge and new revelations pop up, often with a better understanding.

For a closer understanding of the budget, one must look at the vision government shares, in addition to the financials. Let’s take a look at 5 statements that we think are key to Union Budget 2018.

The top 5 policy statements in the Union Budget and what they mean for industry

  1. The early lines pretty much sum the vision of the Union Budget 2018: “focus on strengthening agriculture and rural economy (and) infrastructure creation.” Implications: The government is betting big time on agri-based businesses and is willing to extend sizeable support by way of policy, taxation and infrastructural improvements.
  2. “Online loan sanctioning facility for MSMEs will be revamped”  Implications: The government is looking forward to building a better ease-of-doing-business environment for the MSMEs by easier, faster advances.
  3. The government “will take additional measures to strengthen the environment for their (Venture Capital Funds (VCFs) and Angel Investors) growth and successful operation of alternative investment funds in India”. Implications: The key role VCFs and Angel Investors play in nurturing startups is being formally acknowledged. The government will attempt facilitating their initiatives.
  4. “To invest in research, training, and skilling in robotics, artificial intelligence, digital manufacturing, big data analysis, quantum communication and internet of things, Department of Science & Technology will launch a Mission on Cyber-Physical Systems to support the establishment of centers of excellence.” Implications: The fine details for the Centres of Excellence (CoE) are still awaited but, with the right momentum, this could be a game-changer. Read More... Union Budget 2017 – 2018 And What It Means for The IT Industry and Startups
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