With impetus on education, entrepreneurship, healthcare and agriculture, the Union Budget 2018-19 is a robust, growth-oriented budget, strengthening government’s vision of the New India. Doubling the allocation on Digital India sends a strong signal about the government’s resolve to embed and utilize technology in all arenas. I truly laud NITI Aayog for establishing a national program to direct efforts in Artificial Intelligence. A focussed approach towards Air India divestment plan shows a clear sense of purpose by the government. The government’s intention to simplify policies regarding VC and angel investments is a welcome move for the start-up community.
Allocation of 1 lac crore in Research & Development is a great step forward and hopefully would bridge the existing gap, aligning the academic curriculum with the industry demands and thus addressing the skill-demand gap ratio. The announcement of increasing the capacity of airports by five times augurs well towards strengthening of the Smart City initiative. Modernizing the railways and airports riding on technology offers the appropriate ecosystem for the development of these smart cities, helping us attract more business and increased employment opportunities for the local populace.
Overall, the Union Budget 2018-19 offers an optimistic environment for the holistic growth of the Indian IT & BPM industry.