The Indian IT and ITES sector is estimated at $119 billion with $98 billion in exports alone and the rest being domestic. The sector employs around 4 million people directly.
Here are the key announcements from Finance Minister Arun Jaitley's Budget 2015-16 speech -
- Encouragement to cashless transactions expected to provide a boost to IT vendors.
- Direct benefit transfer leading to better e-governance, again likely to benefit IT vendors.
- Lack of greater clarity on the Digital India initiatives.
- No follow up on the smart cities announcement made in the last Budget.