We laud the government for a progressive and forward-looking budget that has provided the building blocks for a $5 trillion economy. In many ways, the budget encompasses the vision of Hon’ble Prime Minister Shri Narendra Modi, particularly in the areas of Infrastructure, Rural Connectivity, Women Empowerment, Housing, Power and Cooking Gas in rural areas, and creating a robust Digital economy. The special emphasis on boosting electric vehicles in the country by reducing GST as well as incentivising their purchase is a big step towards curbing vehicular pollution. The emphasis is on domestic manufacturing is also welcome.
It is also heartening to note that the budget has focused on evolving technologies like Artificial Intelligence, Big Data, and Robotics etc and acknowledges their critical role in the Indian economy in the coming years. We are hopeful that the government will also roll out specific measures to harness these technologies of the future so that digital India reaches every segment of the economy.
It has been shown categorically that the Telecom industry has been a significant engine for GDP growth, rural inclusion, women empowerment and affordable communication services and ubiquitous connectivity. As such, the industry hoped the Union Budget would provide relief from the high taxes and fee on the industry. Given the importance of the industry in driving inclusive growth, we remain optimistic the government will provide the much needed financial relief and impetus to the industry in post budget review.
