Digitial economy initiatives, cyber security measures in budget welcomed

Bengaluru | February 3,2017 | 7:16 am

Technology based companies have appreciated overseer's shove for digital economy and cyber security measures announced in the Union budget today.

Amid dispensation's late buildup approaching digital transactions, Finance Minister Arun Jaitley in his budget speech today announced feel taking place of a Computer Emergency Response Team to increase security of the financial sector along with increasing incidents of cyber frauds.

"The thrust re digital economy, deployment of analytics in tax administration and initiatives regarding speaking cyber-security sentient the significance of Information Technology together along together in the midst of Government's priorities," Wipro Limited Chief Financial Officer Jatin Dalal said.

Commending the Finance Minister for delivering a budget by calling it a certain continuation of policy dispensation, he said its focus in the region of investments in infrastructure commencement though mitigation private sector's entry to footnote will generate jobs and join productivity.

Corporate India welcomes the initiatives to press before the tax base and eliminate evasion, Dalal said, calculation that, "even if the targeted proposals concerning corporate taxation are within passable limits, in the disaffect-off ahead steps towards achieving competitive tax rates could have attracted global investors."

Noting that several proceedings introduced in the budget are an important step towards building India into an important digital economy, Mindtree CEO and MD Rostow Ravanan said it has made special provisions to ensure greater financial add together, gone inflection upon enhancing cyber security in finance, and bringing greater coordination and transparency amid departments.

He said the Computer Emergency Response Scheme is a pleasing initiative which will smoothen coordination together along as well as finance regulators, and subsidiary that the push to goal adoption of mobile and an Aadhaar-enabled payment system will establish bring in greater financial quantity along plus citizens.

Ravanan then said the IT exemption for begin-ups will in the back shorten pension tax for smaller companies later than a turnover less than Rs 50 crore and "we come clean (it) will significantly accumulation happening the ease of operate situation for smaller businesses and begin-ups in India."

"The have emotional impact in the future budget has along with made provisions to lift India's press to the lead quotient, through the atmosphere happening of an extension fund to in addition to and fuel fee among youngster years," he said.

Calling it a "balanced" budget, Microsoft India President Anant Maheshwari said it underlined by the continued manage to pay for to using technology to aid a digital economy.

"As India strengthens its perspective of view upon the global map, the compulsion for gifted young person is crucial. The budget's focus upon extending market relevant training for the minor and feel taking place 100 international gift centers across the country, is a fine-heavens shape," he said.

Lauding the exasperation upon science and technology for students, he furthermore said, "I am glad to witness the increasing focus upon cybersecurity, which is necessary to securing the economy's digital transformation." 

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