Shibu Paul, Vice President, International Sales, Array Networks
The fiscal deficit for 2020-21 was estimated at 9.5 percent of GDP, the government’s aim is to bring it down by 5 percent of the GDP by 2025-26 which is ambitious and certainly a welcoming initiative. The highlight in this budget is the announcement of the asset reconstruction company and asset management company to help banks tackle bad loans which have been a call by economists for many years. The significance given to the investments and initiatives in the infrastructure development with a few coming under the PPP model will boost the overall development which includes increased investment opportunity from various sectors.
The government’s proposal to use data analytics using AI (artificial intelligence), ML (machine learning) for the Ministry of Corporate Affairs’ database is a boost to the digitalization where the Version 3.0 of MCA-21 includes additional modules for e-scrutiny, e-adjudication, e-consultation and compliance management. Connecting more than 1,000 mandis into E-NAM is an excellent move. Setting up a separate administration structure for ease of doing business would help many organizations from various sectors. The faceless dispute resolution panel would help the citizens by keeping them safe from tax harassment. The importance given to healthcare sector to fight COVID-19 and any future healthcare issues, the stress made in green energy projects like keeping aside Rs 1,000 Crore for solar energy and Rs 1,500 Crore for renewable energy along with voluntary scrapping policy and the weightage given to education has made this budget wholesome.
Shibu Paul, Vice President, International Sales, Array Networks
Digital Edge Bureau 08 Feb, 2021 0 comment(s)Shibu Paul, Vice President, International Sales, Array Networks
The fiscal deficit for 2020-21 was estimated at 9.5 percent of GDP, the government’s aim is to bring it down by 5 percent of the GDP by 2025-26 which is ambitious and certainly a welcoming initiative. The highlight in this budget is the announcement of the asset reconstruction company and asset management company to help banks tackle bad loans which have been a call by economists for many years. The significance given to the investments and initiatives in the infrastructure development with a few coming under the PPP model will boost the overall development which includes increased investment opportunity from various sectors.
The government’s proposal to use data analytics using AI (artificial intelligence), ML (machine learning) for the Ministry of Corporate Affairs’ database is a boost to the digitalization where the Version 3.0 of MCA-21 includes additional modules for e-scrutiny, e-adjudication, e-consultation and compliance management. Connecting more than 1,000 mandis into E-NAM is an excellent move. Setting up a separate administration structure for ease of doing business would help many organizations from various sectors. The faceless dispute resolution panel would help the citizens by keeping them safe from tax harassment. The importance given to healthcare sector to fight COVID-19 and any future healthcare issues, the stress made in green energy projects like keeping aside Rs 1,000 Crore for solar energy and Rs 1,500 Crore for renewable energy along with voluntary scrapping policy and the weightage given to education has made this budget wholesome.
Qaisar
Digital Edge Bureau
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