Tech News Summary:
- Bipin Preet Singh, Co-Founder and CEO of MobiKwik, commends the allocation of Rs. 1 lakh crore for interest-free loans and the extension of tax benefits until March 2025.
- Manoj Nair, India GDC Director at Fujitsu India, welcomes the budget’s focus on digitalization, inclusive development, and sustainable energy investments, along with efforts to upskill and reskill youth through the Skill India mission.
- Chakravarthi C., CEO of Quantum Energy, praises the emphasis on green initiatives but expresses disappointment over the unmet expectations regarding the extension of the FAME II subsidy program for electric vehicles and reduction in GST on lithium-ion battery cells.
In the wake of the recently unveiled Budget 2024, experts in the tech sector are buzzing with excitement over the new initiatives and allocations for electric vehicles (EVs), startups, and sunrise domains. The budget, which was announced earlier this week, has drawn widespread praise and anticipation within the industry.
One of the most notable elements of the budget is the substantial investment in the EV sector, with a focus on increasing the adoption of electric vehicles across the country. Experts believe that this move will not only have a positive impact on the environment but also create new opportunities for innovation and growth within the tech sector.
Furthermore, the budget has also allocated significant resources for startups, with a particular emphasis on fostering the growth of small and medium-sized enterprises (SMEs). This has been met with enthusiasm from industry leaders who see this as a key step in nurturing the entrepreneurial spirit and driving technological advancements in the country.
In addition, the announcement of sunrise domains – which encompass emerging and innovative technologies such as AI, blockchain, and IoT – has been met with great anticipation. Experts believe that this will provide a much-needed boost to these cutting-edge technologies and open up new avenues for investment and development.
Commenting on the budget, tech industry insiders have expressed their optimism and excitement about the potential opportunities that lie ahead. Many believe that the initiatives outlined in the budget will not only drive growth and innovation within the tech sector but also have a far-reaching impact on the economy as a whole.
Overall, the tech sector buzz surrounding the Budget 2024 has been overwhelmingly positive, with experts looking forward to the multitude of opportunities that are expected to arise from these newly unveiled initiatives.