Every industry was expecting a huge change in the union budget 2017, after demonetization, and yesterday our union finance minister Arun Jaitley presented the budget 2017 -18. With the evoked diverse reactions from IT security industry’ leaders and experts, we have gathered all the reactions at one place.
Here are some of the reactions; have a look…
Mr.Padmanabha Krishnamurthy, CFO, Paladion Networks
“We see a positive and bigger push towards a digital India in the Union Budget for financial year 2017. Allocation of over ten thousand crores for the Bharat Net Project to provide Wi-Fi hotspots to more than 150,000 Gram Panchayats will truly democratize digital access and the change the cyber landscape in India. We are very pleased to hear about the setting up of a computer emergency response team exclusively for the financial sector, and the payment regulatory board in RBI for monitoring electronic payments. With aggressive promotion of online payments after demonetization, this is a welcome move and will bolster public confidence in online payments. We look forward to swift implementation of these technology changes and hope to see a world class digital economy in India. ”
Sanjay Rohatgi, Senior Vice President, Asia-Pacific and Japan, Symantec
“The union budget for 2017-18 endeavors to transform, energize and clean (TEC) Indian economy amidst an environment of growing aspirations of the people and global headwinds and post-demonetization environment. Enhanced investment in digital infrastructure; promotion of digital economy and cashless transactions; and, use of data analytics for improving tax compliance are welcome steps but proactive and prudent investments in cybersecurity are must for the desired outcomes.
While setting up of dedicated Computer Emergency Response Team (CERT) for financial sector demonstrates the focus on cybersecurity, it would have been better to set aside 8 percent of the every digitalization project of the government exclusively for cyber security. Overall, it is a balanced and growth-oriented budget that should boost social development, economic growth and empowerment of citizenry.”
Mr. Surjit K Bawa, MD India, Chi Networks
“India is traditionally behind cyber security standards compared to developed nations but the latest demonetization has fueled the requirement of better cyber security policies and framework. Hence the formation of core team for the financial sector is a great move, however implementation will only see the right results. Other than this, we have high hopes from GST as we are currently paying about 24% in taxes for services and products offered to our clients here, hence a single tax of 17% maximum will be more than welcome. Similarly, if we look at cyber security standards, much more needs to be done by the Government and the private sector.”
Mr. Altaf Halde, Managing Director, Kaspersky Lab- South Asia
“Budget 2017 has all ingredients to make “Digital India” a reality. It has clearly spelled out the importance and roadmap for enhanced security of the digital platform. Post demonetisation the number of digital transactions have increased, and also the concerns about cyber security.
The government has taken a step to address this by announcing to set up ‘Computer emergency response’ team for cyber security of financial sector. It will lead to collaboration between the technology companies and the banking system in the country. For sure, this will create more opportunities domestically for the IT and technology businesses in India and offer higher trust level for customers.
With demonetisation and India going digital we would like to see more focus from government to allocate budget into improving our cybersecurity framework.”