Union Budget 2017 is presented in Parliament, Lok Sabha to be precise and is important coming on the back of demonetization and would revolve around three C’s: cashless; centralized taxes (GST); and cloud. For 3 C’s to succeed, Arun Jaitley Finance Minister and MoS Finance have to provide for the required technology otherwise the policies won’t succeed. A case for investment in technology needs to be made in the economic survey too. Moreover, programs like Digital India, Smart City, and Make in India hinge on India’s ability to scale up and adopt new cutting-edge technologies, including cloud, Internet of Things, and Big Data.
Cloud infrastructure would determine success of demonetization and cashless
There can’t cashless unless there is cloud infrastructure to support the measures. Gaps in implementation can be reduced only through cloud technology. The Indian Government should invest in cloud computing as digitalization depends on technology. A developed digital infrastructure is prerequisite to digitalization as companies are failing to provide foolproof and sophisticated digital wallets. Cloud computing provides technology on the go.
“The Indian government must incentivize cloud technology sector so that more and more international and national players perceive India as a destination go for the digital. Through Union Budget 2017, the government has to ensure that the technology to digitize the country is in place,” said Shashank Dixit, CEO, Deskera, a global leader in cloud technology.
Moreover, the investments would make cloud services affordable for startups, SMEs and small businesses and economy would boom. It would also help startups and SMEs catch up with big corporates.
Smart City Project depends on Internet of Things (IoT) and Smart Homes and Appliances
Imagine the AC switching off so that the washing machine has sufficient electricity. This is the future of appliances the world over. The concept of a smart home or a smart city therefore depends on how much this technology is embraced. Connected appliances like TV, fridge, washing machine, home security systems, etc. have to be equipped with cameras and sensors. Thus, adoption of IoT is crucial.
With expansion in 3G as well as 4G services (talks of 5G are also hovering in the air) and overall broadband connectivity, a smart revolution is waiting to happen. But that would depend on the ability to embrace new-era technology; the role of Finance Minister Arun Jaitley and the Union Budget 2017 is pivotal. Other countries are undergoing rapid expansion as well as acceptability. A smart city depends on IoT. Moreover, with the coming of Industrial Internet of Things (IIoT), it’s time India started moving to new-era technology.
Big Data and Analytics can trace black money and make services cheaper
FM Jaitley should invest in Big Data and Analytics which can be pivotal in providing services, particularly in the healthcare sector. The hardest of medical problems in healthcare sector can be resolved through Big Data and Analytics. With sensors becoming affordable, data collection would reach extremely high levels, offering insights into diverse areas such as treatment of diseases and environment conservation. For Third World countries such as India, the technology could help reduce medical bills and universalize healthcare services. Also, Big Data can track black money, obviating the demonetization and cashless drives by using cutting-edge technology.
Budget 2017 should be forward looking
Budget 2017 must be forward-looking and should bolster policy measures such as Smart City and Digital India. I am hoping that the Union Budget 2017 would provide the push that is needed.