Sector specific solutions suggested
Representatives of Digital Economy and Start-ups have shared their views and made suggestions regarding Big Data, data mining, building of digital infrastructure as the big challenge before Indian economy besides scaling-up and incentivising Research & Development (R&D) within India.
The suggestions were made during Pre-Budget Consultation Meeting with Minister of State for Finance & Corporate Affairs, Anurag Thakur, in Delhi on 15 June 2019.
While experts discussed the issues ailing their respective fields, they also suggested a variety of solutions to the sector specific problems.
Development of Start-Ups and Micro Small and Medium Enterprises (MSME) eco-system in the country also featured in various suggestions, said the Ministry of Finance.
Experts and representatives gave suggestions related to enhancement of public services through data analytics, development of efficient citizen-Government interaction by development of public services applications, building big data capacity for MSME sector, inter-linkages and data sharing within the Government and with private players.
The suggestions were also related to Angel Tax, need for assessment and dealing with digital frauds especially cross border digital frauds and deceptive practices and setting-up of an Agency to deal with them.
They have also called for incentives for Indian IP Products and Funding of Open Source Innovation, differential tax structure for assembled and manufactured goods, instituting advanced mobile communication, need for separate mobile and fixed landline bandwidth for business and entertainment, industry-friendly review of spectrum auction norms, reduction of dependence on international software service providers and increased support to domestic software service providers, continuation of existing tax benefits to digital companies, reduction in Corporate Tax, tapping into Artificial Intelligence for streamlining health services, development of legislation for data governance and incentivising Indian Intellectual Property professionals among others. fiinews.com
