It is a populist Budget overall. While a move in the right direction, it fell short of expectations. The measures for digital transformation & financial inclusion are applauded. However, the government has deployed a lot more sticks than carrots to push the less-cash agenda.
I would have expected zero TDR for small value digital transactions. Investments in infrastructure, focus on rural India & employment guarantee and women empowerment are welcome. Allocation of Rs 10,000 crore for the BharatNet project for providing high-speed broadband is a pleasant step. So is the launch of Aadhaar Pay to promote digital transactions. Corporate tax breaks for small scale enterprises is a step in the right direction and it is important the government recognises small scale enterprises as an important growth driver of GDP. The incentive for start-ups fell short of expectations. There is not much clarity around foreign direct investment, so let’s see how it pans out in the coming days. Without participation from small scale enterprises, India cannot dream to be the world’s largest global economy or improve the lot of 1.3 billion people.
I would have expected zero TDR for small value digital transactions. Investments in infrastructure, focus on rural India & employment guarantee and women empowerment are welcome. Allocation of Rs 10,000 crore for the BharatNet project for providing high-speed broadband is a pleasant step. So is the launch of Aadhaar Pay to promote digital transactions. Corporate tax breaks for small scale enterprises is a step in the right direction and it is important the government recognises small scale enterprises as an important growth driver of GDP. The incentive for start-ups fell short of expectations. There is not much clarity around foreign direct investment, so let’s see how it pans out in the coming days. Without participation from small scale enterprises, India cannot dream to be the world’s largest global economy or improve the lot of 1.3 billion people.
Sanjay Sethi, Co-founder & CEO, Shopclues
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