Budget 2018 is perhaps the first Budget where startups related announcements were spread across the speech. Whether focus on using technology for online training to improving education system, a positive for ed tech startups to building a robust fibre optic infrastructure to include more rural areas and connect them via internet, a good news for language technology startups to adoption of 5G technologies like AI ML, IoT and 3D a big fillip to startups working in cutting edge innovation technology sector. The biggest takeaway for companies like ours was that the FM doubled the allocation under Digital India to Rs 3078 crore with special emphasis on cyber security. It is heartening to see our government’s emphasis on importance of cyber security and recognizing digital threats as a real concern as we transform into a digital society. We expect more work avenues and contracts to be opened up under the guidance of Niti Aayog pertaining to cyber security. Not only this, we expect enterprises to start designing company-wide cyber security strategy resulting in more avenues to jointly work with large enterprises and securing their networks. The use of AI and ML will go a long way in doing this.
- Post-budget 2018 Reaction Mr. Punit Jain, CEO, Nelito Systems Limited
- Post-budget 2018 Reaction Mr. Bhaskar Majumdar, Managing Partner, Unicorn India Ventures