New Delhi: Welcoming the Union General Budget 2022-23, Sandeep Narula, Chairman, Electronics and Computer Software Export Promotion Council (ESC), has said that one aspect that stood in the Budget is its heavy dependence on technology, digital tools and platforms.

“Every new measure spelt out in the Budget, there is an interface with  technology and digital platforms, be they are connected with introduction of the new digital currency to be operated through block chains, or welfare measures like education and healthcare, e-passports, banking,  land reforms  or programmes for ensuring better governance,” said Narula, adding that as an organization closely connected with digital India “we feel enthused and elated  by this great transformation of leveraging technology for common good.”

Narula said that the impact of the Union Budget on the ICT industry could be gauged only after looking at the fine print of the Budget. Yet, ESC feels that the announcement by Finance Minister Nirmala Sitharaman to re-calibrate customs duties to provide a graded rate structure and duty concessions to help boost electronic products, is an encouraging one and hoped that such changes would be to further address the inverted duty structure on the ICT components to ensure a degree of protection to the struggling domestic component manufacturers.

Focusing on the recently announced plan of Accelerated Corporate Exit Programme to ensure companies to walk out of the failed or unsuccessful business ventures, the ESC Chairman opined that it is of equal importance as entry into the business. These two factors will greatly contribute substantially to ease of doing business. There should be a single window for the exit route to speed up the process of winding up instead of approaching various departments for such work, which is very time consuming. /BI/