Budget 2022 will be presented on February 1 in the backdrop of an ongoing pandemic that has profoundly changed the economic landscape not only in India, but globally. While the government is likely to incentivize each sector, as the global epicenter for IT, the Indian tech industry’s performance is likely to be crucial. Technology has been one of the few sectors to show resilience, and the Covid-19 pandemic has been a catalyst for technology and digital adoption across sectors. With companies looking towards recovery from an overall economic slump, ensuring stability and impetus for growth should be the key highlight in this Budget.

CXOToday speaks to some experts in the IT industry on their expectations from the Union Budget 2022:

“We believe 2022 will be an incredible year for the Indian IT & ITeS industry. Despite facing the worst hit during the second pandemic wave, IT spending in India was unaffected and is forecasted to increase by 7% this year. We believe the upcoming fiscal policy will encourage technology adoption. From a macro perspective, we expect it to support innovation and drive business resilience by leveraging new-age technologies. Digital transformation should be an ongoing effort by the Indian government to pave the way for more agile and dynamic businesses. Prioritizing this effort would also result in hiring a workforce to deliver on the technological needs. Fueled by technological progress, India’s economic growth will increase exponentially.

It would be beneficial for our industry if the Budget also directs some resources on building a robust e-learning ecosystem, implementing online innovation, and scouting suitable technological tools to enhance the online learning ecosystem. We are eager for this year’s Budget announcement and what it has in store for this industry.” – Deepak Mittal, CEO and Co-Founder, TO THE NEW

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