VARINDIA IT MAGAZINE

This year Union Budget 2021 has huge expectations from technology sector:  There are lots of hope from expectations from the   Finance Minister Nirmala Sitharaman   and   Union Budget 2021 . Finance Minister Nirmala Sitharaman has promised a never before like Union Budget as the   Modi government   looks to give a further boost to Indian economy ahead.   Minister of State for Finance Anurag Thakur  and senior officials of the finance ministry on Saturday participated in the symbolic 'Halwa Ceremony' that marks the beginning of compilation of budget documents. Union Budget 2021 is scheduled to be presented in Parliament on February 1, 2021.   The unprecedented Covid-19 pandemic has; without doubt; adversely impacted world economy at large. Almost every industry has borne the brunt and MSMEs are severely affected with many closing down, probably permanently. However, IT & ITeS sector has seen spike in growth across some industry verticals i...

From budget year 2017-18, the Government has decided to merge Rail Budget with the Union Budget. The merger of Railway Budget with General Budget is based on the recommendations of the Committee headed by Shri Bibek Debroy, Member, NITI Aayog, and a separate paper on “Dispensing with the Railway Budget” presented by Shri Bibek Debroy along with Shri Kishore Desai. A Committee with representatives from the Ministry of Finance and Ministry of Railways examined the issues involved and worked out the procedural details. The salient features of merger and the benefits likely to accrue there from are broadly given below: i. Ministry of Railways will continue to function as a departmentally run commercial undertaking; ii. A separate Statement of Budget Estimates and Demand for Grant will be created for Railways; iii. A single Appropriation Bill, including the estimates of Railways, will be prepared and presented by Ministry of Finance to Parliament and all legislative work connecte...

In the Union Budget 2018, Finance Minister Arun Jaitley proposed to set up 5 lakh hotspots which will provide broadband to 5 crore Indians and government has allocated a fund of Rs 10,000 crore under telecom infrastructure.  To hasten the adoption of 5G, the Department of Telecom (DoT) along with IIT Chennai will support the establishment of indigenous test bed for 5G technologies.... Read More

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Zinnov has released a report titled, ‘Indian SMB Sector 2013’ capturing facts and figures on the growing SMB segment in India. The study revealed that with a total base of 48.8 million SMBs, India is the fast growing and is to become the largest SMB nation globally.   As per the released report, the Indian SMB sector gives employment to approx. 81.16 million people in India which has increased at a CAGR of 5.29%, while the fixed investment has been consistently increasing over the years at 11.48%.Indian SMB segment is dominated by micro scale businesses, contributing 95% of the SMB landscape, followed by small scale businesses contributing 4.8% and the rest 0.2% by medium scale businesses. Out of the 48.8 million SMBs around 55% are located in urban areas while the rest 45% constitutes to the rural regions. Initiatives like tax incentive for growing SMBs in the Union Budget have helped SMBs enhance their competitiveness in the...