Post-budget 2018 Reaction Mr. Aslam Khan, Chairman, Managing Director & Chief Executive Officer, Octaware Technologies Limited

It is a welcome announcement, as far as the SME / MSME sector is concerned. The SME / MSME sectors are economy’s major employment generators and engines of growth. The fact that INR. 3794 crores has been allocated to MSME sector for credit support, capital and interest subsidy on innovation, reinforces government’s unstinted support to the sector, which had a tough time adjusting to demonetisation and implementation of GST. The cut in the corporate tax rate introduced last year from 30 per cent to 25 per cent, to companies clocking a turnover of up to 250 crores from Rs 50 crore, is also a much lauded initiative and will help in developing the sector, further. The estimates of revenue foregone due to this measure is Rs 7,000 crore in 2018-19. Besides, the move to assign every enterprise, a unique ID on the lines of Aadhar, will further strengthen India Stack initiative.