January 23, 2024 / 22:55 IST
"The IT sector foresees the 2024 Union Budget emphasizing digital infrastructure investments and providing incentives for research, skill enhancement, and nurturing innovation hubs. Hopes encompass augmented funding for cybersecurity, backing for cutting-edge technologies such as AI, IoT, and 5G, and revisions in tax policies to stimulate IT exports. Streamlined regulations for startups and increased focus on digital education initiatives are also expected. The industry aims for a favorable climate supporting growth, emphasizing improved business processes and global competitiveness, intending to solidify India's standing as a leading force in the global tech arena,"said Amit Prasad, Founder and CEO, SatNav.
January 23, 2024 / 20:59 IST
"With the introduction of the data protection bill, we are expecting to see stride movements in the regulation of data privacy aligning with global standards, a cohesive policy framework to protect user privacy and also stimulate innovation in the digital economy. Alongside privacy and protection, we expect to see some wave movement around emerging technologies like AI and the nation’s take on leveraging its power to empower further digital advancements,"Amit Relan, Co-Founder and CEO, mFilterItsaid.
January 23, 2024 / 19:03 IST
"The Indian government needs to implement focused strategies. These include creating innovation zones offering incentives and infrastructural support, encouraging public-private partnerships to combine expertise and resources, and boosting funding for advanced drug research and development. Streamlining regulatory pathways to expedite approvals for novel treatments and investing in educational initiatives to develop a workforce adept in pharmaceutical innovation are also key. These initiatives are expected to usher in a new age of Indian pharmaceutical leadership, characterized by groundbreaking R&D,"Granules India Chairman and Joint MDKrishna Prasad Chigurupati said.
January 23, 2024 / 18:19 IST
With an 87 percentadoption rate in India, the Fintech industry is growing at an astonishing rate, which calls for deliberate efforts to maintain growth, TradeSmart CEO Vikas Singhania said, adding thatgiven the industry's contribution to financial inclusion, the budget should improve ties between Fintechs and conventional banks "Focused initiatives to assist the 70 million micro-scale businesses, which account for a large share of non-farm employment, should be given top priority in the budget," he further stated.
January 23, 2024 / 17:54 IST
- Edtech firms express hope for potential tax incentives and benefits in the interim budget. They contend that a decrease in Goods and Services Tax (GST) rates on digital educational content and services could enhance the affordability of online learning, proving advantageous for both students and edtech companies.
January 23, 2024 / 17:45 IST
- The government may extend the concessional 15 percent income tax rate for corporates to set up new manufacturing units by one year till March 31, 2025, to encourage private investments, EY said in its 2024 Budget expectation report.
January 23, 2024 / 17:36 IST
- Telecom infrastructure providers are seeking availability of input tax credit on telecom towers, and have made a plea for an increase in tax depreciation rate and rationalisation of TDS provisions in their Budget wishlist.
- The players under the aegis of Digital Infrastructure Providers' Association (DIPA) said measures to facilitate ease of doing business will increase investment and contribute to the industry's long-term growth
January 23, 2024 / 17:25 IST
- Economists predict that Finance Minister Nirmala Sitharaman might unveil a target of approximately 5.3 percent of GDP for the 2024-25 fiscal year during the upcoming interim budget.
January 23, 2024 / 17:16 IST
- The government is on the brink of a transformative shift in its flagship health scheme, Ayushman Bharat, with plans to potentially double insurance cover under the Pradhan Mantri Jan Arogya Yojana (PM-JAY) to Rs 10 lakh from Rs 5 lakh.
- This move aims to include coverage for critical ailments like cancer and transplants, acknowledging the increasing financial burden associated with these medical conditions.
January 23, 2024 / 17:03 IST
- All India Gaming Federation Spokesperson Roland Landers said, "There have been significant regulatory strides in the online gaming sector, and we anticipate progressive allocations to be made towards the sector in the upcoming union budget, including towards the implementation of IT Rules for online games and the establishment of self-regulatory bodies."
- "Additionally, we look forward to budgetary allocations aligned with the AVGC policies, in line with the recommendations of the AVGC Task Force's report from the Ministry of Information and Broadcasting," he added.
Credit: Moneycontrol