Budget should spur AI use in economy: IT sector



With disruptive technologies like Artificial Intelligence (AI) driving businesses, the IT sector wants the Union Budget for fiscal 2020-21 to ensure greater use of these to spur a sluggish economy among other measures for the sector, industry experts said on Friday.

Cybage Software’s Chief Executive Officer - Arun Nathani said the budget should take steps to roll back DDT across the board to attract FDI and incentivise the sector to ramp up the capex/opex spend once the demand is back.

"Rationalising the GST rates and compliance processes will outgrow the consumption rates. The Indian IT industry will welcome specific incentives like weighted deductions for investing in R&D of AI/BI technology tools to facilitate IT firms, companies, universities and research institutes," Nathani added.

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