Leaders in the technology domain discussed and dissected the Union Budget 2017 in a post-budget roundtable organised by BW Businessworld in Bengaluru on February 3. The panellists included Lalit Bhise, CEO of Mobisy Technologies; Chetan Rai, VP- Operations at Cnetric; George Varghese, CEO & MD, ET Marlabs; and R.S. Sharma, CEO of Virgosys Software.
The power panel was moderated by Ayushman Baruah, Associate Editor, BW Businessworld who set the stage by referring to the technology aspects of the budget such as focus on digital India. “Digi Gaon and Bharat Net are positive steps and will inevitably boost IT penetration. Focus on digital literacy will act as an enabler for job creation and skill development,” he said.
While the budget did not have any direct sops for the Indian IT industry, a section of the experts viewed this as a reflection of the sector’s maturity where the industry no longer needed any sops now, unlike the startups.
George Varghese of ET Marlabs rated the budget as “industry friendly” and talked about the various positive steps around digital India.
R.S. Sharma of Virgosys Software said that the government’s focus on digitisation is a great move. “Modi is trying to bring the government to your home,” he said referring to all the digital payment initiatives which enable people to transact from the comfort of their homes.
Chetan Rai of Cnetric said that the government’s thrust on startups is commendable and large IT players can also benefit from it by including the smaller businesses.
Lalit Bhise of Mobisy Technologies indicated that it’s too early to rate the budget. “The intent is there, but not sure of the execution,” he said. He also stated that in a move towards digital India, reducing the cost of POS (point of sale) machines is seen as a “regressive step” at a time when payments are taking place through smartphones.
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