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MoS Finance holds pre-Budget meeting with digital economy experts, start-ups

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Minister of State for Finance and Corporate Affairs Anurag Thakur on Saturday held the pre-Budget consultation meeting with the representatives of the digital economy and start-ups here.

The use of big data technology, digital infrastructure, the role of government, regulation of digital economy and software as service were the main areas of discussion during the meeting, according to an official statement.

Union Finance Minister Nirmala Sitharaman will present the Budget for 2019-20 in the Parliament on July 5

The meeting was also attended by CBDT Chairman, CBIC Chairman, Finance Secretary, Expenditure Secretary, Revenue Secretary, DIPAM Secretary, Secretary of Department of Electronics and Information Technology, Secretary of Department of Telecommunications, Principal Economic Adviser other senior officials of the Ministry of Finance.

According to the statement, the representatives of the digital economy and start-ups shared their views and suggestions regarding the big challenges before the Indian economy. The experts also discussed issues ailing their respective fields and suggested a variety of solutions to the sector-specific problems.

Development of start-ups and Micro Small and Medium Enterprises (MSME) eco-system in the country also featured in various suggestions.

Experts and representatives gave suggestions related to the enhancement of public services, inter-linkages and data sharing, Angel Tax, digital frauds, incentivising Indian IP products, funding of open source innovation, differential tax structure for assembled and manufactured goods, advanced mobile communication, reduction of dependence on international software service providers, reduction in Corporate Tax, tapping into Artificial Intelligence, development of legislation for data governance and incentivising Indian Intellectual Property professionals among others, the statement said.

Several experts and senior officials from different industries and government departments also participated in the meeting.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, June 15 2019. 17:58 IST
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