Post-Budget Reaction by Mr. Raju Vanapala, Founder and CEO of LearnSocial.com
This time, the Finance Minister has given special attention to the IT and ITes sector. The announcement of Rs 1000 crore for promotion of start-ups is a highly positive move. We feel that the new government has presented a progressive budget, which will help in creating an investor-friendly environment and attract more foreign and domestic investment in the IT sector. As we all know, a boom in the IT Industry with advanced technology leads to direct growth of the economy. Hence, the government has laid a special focus on this space. The new mechanism known as Self Employment and Talent Utilisation (SETU) will be a techno-financial incubation and facilitation programme to support all aspects of start-up business and other self employment activities particularly in technology-driven areas. This too will open more avenues in the sector and be a veritable shot in the arm.
