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Technology can amplify changes: Vishal Sikka

Monday, February 29, 2016, 22:03
This news item was posted in Business category and has 0 Comments so far.

It’s encouraging to see the Union Budget reinforce the Indian government’s commitment to focus on equitable growth areas clearly relying on the Digital India mission — and its pillars — to enable and amplify progress. Especially since the Budget has looked at leveraging technology to enable many of these changes. Technology is fundamentally transforming the world around us, in every aspect of our lives as well as in business; enabling us to become more closely connected, to collaborate in new ways, to explore and pursue new ideas, and make things which weren’t possible before. Technology can amplify our potential and empower all of us to be more and do more in the world around us. Many of the programmes that the Budget supports such as the integrated e-platform for agricultural produce, automation of 3 lakh fair price shops, e-assessments for all taxpayers in seven mega cities, an online platform to facilitate procurement of goods and services by the government, to name a few, are a reflection of the government’s commitment to leverage technology to enable and amplify change in India. The Budget supports the three key initiatives we need to realise our aspirations for India. The first is by focusing on supporting institutionalisation of lifelong learning and reskilling, satisfying people’s continual need to develop. The budgetary backing to drive and accelerate digital literacy through the National Digital Literacy Mission and the Digital Saksharta Abhiyan are necessary and timely moves. These programmes coupled with the ongoing work to enable 100% electrification across the country by 2018, will play a critical role in empowering people across the nation to participate in the digital revolution in a meaningful way. At the same time, more focused budgetary investments as part of the Budget in furthering education in technology and sciences — especially at the higher education levels — would have been welcome. The second significant pillar of progress that the Budget supports is Indian entrepreneurship and innovation. The fiscal plans to fund the provision of entrepreneurship training across schools, colleges and through massive online programmes is commendable. Further impetus to promote entrepreneurship will be provided by the proposed amendment to the Companies Act, 2013 which will improve the environment for startups, and make otherwise laborious formalities like the registration of companies, a simple, convenient one-day affair. The third is ease of conducting business and bringing these innovations to life. The government has delivered on its promise to facilitate a more predictable tax and regulatory environment. This is reflected in the clear roadmap for the removal of profit-linked tax incentives which will now be phased out by March 31, 2020 enabling businesses to plan their investments and expansions. The viability of innovation and new solutions as the basis for business will, I believe, be of benefit to not just Indians but to all of humanity. In summary, the Union Budget 2016 builds upon the momentum started earlier and seeks to create a holistic framework for sustainable and inclusive growth — based on learning and education, entrepreneurship, and on creating a business environment that supports ease of innovation — all amplified and enabled by embracing advances in technology.

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