Expectation on Budget of UCWeb!

Kenny Ye_MD_UCWeb IndiaKenny Ye, MD, UCWeb India,

Budget Expectations – IT Sector 

Even as tamed inflation and low oil prices have turned the tide in favour of India, Finance Minister Arun Jaitley should present a futuristic Budget to drive the growth impetus. 

While the current government has announced encouraging initiatives like Start-up India, Skills India and Make in India, the centre must look to enhance the technological infrastructure that will help fulfill these dreams and drive IT penetration in the country. Increased access to internet connectivity in rural India and higher mobile internet penetration in tier III & IV cities should be a priority to fill crucial gaps in the internet ecosystem, spur domestic spending and boost economic growth. 

Removal of angel tax, cut in direct and indirect taxes will provide the much-needed impetus for entrepreneurs and push India to become the start-up capital of the world. The ecommerce sector is also fraught with redundant taxation laws that need immediate overhaul. 

I am also hoping for a definite roadmap for GST implementation in Budget 2016