Budget 2022 Focusses on Digitalization, Set to Provide Definite Boost for Start-Ups in India

The much anticipated Union budget 2022 has been termed as progressive, people friendly and Finance Minister Nirmala Sitharaman said a conscious decision was taken not to increase taxes because of the hardship that people have been facing due to the pandemic.

Mr. Amit Vasistha, Founder and CEO of GALF

Where the budget has spoken about the Mental wellness programs which is evidently the need of the hour.It also spoke about the start-ups and how the tax incentive being extended to help them during these tough times.

Mr. Amit Vasistha, Founder & CEO of GALF, the aim of which has always been a 360 degree holistic wellness talked about how the open platform for the National Digital Health Ecosystem being rolled out is a step in the right direction, as it will provide better access to healthcare facilities. The National Tele Mental Health program is also a much-awaited move which will increase awareness about mental health, and provide access to mental health services regardless of distance. He added, "The budget certainly reaffirms our faith in the government's commitment to give the utmost priority to the healthcare industry."

And the best part of the budget is the corporate tax relaxation, SEZ clause reviews and infra heavy budget which will benefit job creators and also bringing in more blue coloured employment opportunities.

Mr. Rajnish Virmani, Managing Partner of Positive Momentum commented on how the announcement has given Digital India required boost. "The pandemic has taught us that Digital approach can supplement and accelerate traditional growth of the economy." 

RBI planning to launch a digital currency, the initiative to set up 75 digital banking units in 75 districts will all play a vital role in digitalization. From a telecom sector perspective, the 5G spectrum auction, 100 percent fiber with PPP model will provide further motivation towards digitalization.

Ms. Sumbul Siddiqui Co-founder and Chief Executive of Knosh shared her thought saying, "The focus to boost employment through the Production Linked Incentive (PLI) Scheme for achieving Aatmanirbhar Bharat, with potential to create 60 lakh new jobs and additional production of 30 lakh crore during next Keycap digit five years is definitely something that India had been looking for.”