Budget 2022: When Finance Minister Nirmala Sitharaman presents the Union Budget this time, it will be her fourth General Budget. This year, once again it is expected that she will meet the expectations of all the industries of the country, apart from maintaining the momentum of the India’s economy during Covid. It may be noted that the IT services sector has managed to put up a good show even during the pandemic years.
Here are some expectations of the IT sector
The IT services sector has put up a stellar show even during the pandemic and the sector is hoping to get some benefits from this year’s Budget. The IT sector has the capability and strength on the basis of which it has proven how the business can be run properly even during the pandemic. Hence, these are the demands of the IT sector from the Budget.
IT sector’s demands
It is expected that tax exemption will provide relief to the IT sector on the risk capital front. The sector has demanded that more steps should be taken for the ease of doing business. Most of the employees of IT companies are now working from home (WFH). So, there is a demand to implement a WFH policy through which some relief should be given to such employees by not imposing an additional tax burden.
Focus on start-ups
There is also a demand for some incentives for the IT start-ups so that new entrepreneurs can also get incentives and can progress with the growth of the IT sector.
Recently, a newspaper report claimed that the Union Budget will be presented at 4 pm on February 1. However, this is not true. The Budget will be presented in Parliament at its scheduled time at 11 am.
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