By Tapan Barman, Co-Founder and CEO, Mihup

“As a technology entrepreneur, I find the interim budget presented by the Finance Minister of India today to be a source of both excitement and anticipation. The budget’s focus on digital infrastructure and innovation is a positive development, signaling the government’s acknowledgment of technology as a crucial catalyst for economic growth. The allocation for improving digital connectivity, particularly in rural areas, is commendable and expands the market for tech businesses and startups, creating opportunities for innovation among a more diverse user base.

However, the budget lacks specific incentives for the burgeoning startup ecosystem, such as tax reliefs or funding for early-stage tech startups. This represents a missed opportunity to boost the morale and stability of startups, especially in a challenging economic environment. Additionally, it would have been beneficial if the budget directly addressed issues like ease of doing business and regulatory challenges, which often consume considerable time and resources for entrepreneurs.

Yet, as highlighted by Mr. Anand Mahindra today, budgets may not be the ideal platform for major policy innovations. We remain confident that numerous changes will unfold throughout the year,” said Tapan Barman, Co-Founder & CEO, Mihup, a leading conversational AI platform, specialising in speech recognition and natural language processing solutions.