Latest News | Union Budget Reflects Govt's Aim to Create Robust, Inclusive Digital Economy: IAMAI

New Delhi, Feb 1 (PTI) Internet and Mobile Association of India (IAMAI) on Tuesday said the Union Budget reflects the government's aim to create a robust and inclusive digital economy.

"This year, the Union Budget has an all-around focus on digital economy - from creating an access infrastructure to harnessing digital - for social sectors, such as agriculture, education and health-tech to promoting digital startups," IAMAI President Subho Ray said.

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Flipkart Group CEO Kalyan Krishnamurthy said the Union Budget is inclusive and growth-oriented, balanced with a clear focus on strengthening physical and digital infrastructure, boosting the 'Make in India' startup ecosystem and providing a strong digital push.

The various initiatives will significantly contribute to the Indian dream of creating a 5 trillion dollar economy, he added.

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Kunal Bahl, co-founder and CEO of Snapdeal, said new initiatives across currency, banking, education, skilling, health, passports, and logistics will enable a large part of the country to benefit from India's growing digital revolution.

The government's focus on augmenting India's road, rail, and telecom infrastructure will help further accelerate growth opportunities across Bharat, he added.

Vishwas Patel, Payments Council of India (PCI) Chairman and Director of Infibeam Avenues, said the formal announcement on the launch of India's CBDC - the Digital Rupee - was a much-awaited and positive move, and will trigger a wave of preparatory activity amongst retail payments providers and applications to offer payment mechanisms using the Digital Rupee.

Unacademy Group co-founder and CEO Gaurav Munjal said the education sector in particular stands to benefit greatly with the emphasis on skill development and e-learning.

Mayank Kumar, Chair of the India Edtech Consortium and upGrad co-founder and MD, noted that the launch of the Digital DESH e-portal for skilling, upskilling, and reskilling for the youth will help drive a more dynamic sector with value additions like better employability and a strengthened economy.

"The focus on setting up a digital university as well as government's promise to deliver high-quality e-content in all spoken languages for delivery via internet, mobile phones, TV, radio and digital teachers will incentivise the Indian edtech sector and further consolidate its position as a world leader. The Budget also confirms that edtech will play an integral role in bridging gaps in education caused by the pandemic," Divya Gokulnath, co-chair, India Edtech Consortium and co-founder and director of Byju's, said.

Sujeet Kumar, a co-founder at B2B e-commerce platform Udaan, said while focusing on growth, the Budget also takes into consideration the interests of every section of society.

"The incentives to further extend the existing tax redemption benefit for startups, surcharge on long-term capital gains (LTCG) tax capped at 15 per cent, plans to fund agri-startups, and steps towards universalisation of education, skill development and health are some of the major steps in this year's Budget," he added.

Vidit Aatrey, founder and CEO of Meesho, said the 2022 Union Budget is forward-looking and inclusive and lays down the roadmap for an aspirational India.

"We have been keenly watching the developments that impact our sellers and their ecosystem and we see positive moves on those aspects. Emergency credit guarantee scheme (ECLGS) extension up to March 2023 will be helpful for the MSMEs to regain their business above the pre-pandemic levels," he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)