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Budget 2016: What's in it for the IT industry?

Widespread digitization. Too early to tell if these would result in business for the IT industry. But the proposed include expansion in the scope of e-assessments, modernisation of land records (the revamped programme will build an integrated land information management system. 

twitter-logo Goutam Das        Last Updated: February 29, 2016  | 20:15 IST

 

 

  • Continued backing to AADHAR platform to ensure benefits reach the deserving. That's encouraging, but vendors need to be paid, too.
  • Widespread digitization. Too early to tell if these would result in business for the IT industry. But the proposed include expansion in the scope of e-assessments, modernisation of land records (the revamped programme will build an integrated land information management system.  Rs 150 crore has been provided for this purpose), and establishment of a "Digital Depository for School Leaving Certificates, College Degrees, Academic Awards and Mark sheets, on the pattern of a Securities Depository".
  • A new Digital Literacy Mission Scheme for rural India will cover six crore additional household within the next three years - that is good but Som Mittal, the former President of Nasscom, points out that no word has been mentioned about Bharat Net, which seeks to connect rural areas through broadband. Without this crucial piece, digital literacy may fall flat.  
  • TCS CEO N. Chandrasekaran says that "The extension of SEZ scheme till 2020 and reduced tax at 10 per cent for global revenues generated by India-registered IPR will further energise entrepreneurship".
  • For tech start-ups, there is 100 per cent deduction of profits for three out of five years for units setup during April, 2016 to March, 2019. MAT will apply. May have limited impact.
  • Industry lobby body Nasscom points out that removal of dual levies on software products have not been addressed; domestic investors continue to face higher tax rates.

 

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