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Below the Quote on Martech Sector Post Budget by Mr Apurv Modi, Managing Director & Co-Founder of ATechnos Group

"The Union Budget 2024 focuses on nine key priorities and demonstrates a comprehensive approach to India's growth and development. I am excited about the emphasis on Innovation, R&D, and Next Generation reforms. These priorities align perfectly with the digital revolution that's reshaping our economy.
The focus on Manufacturing and Services, coupled with Urban Development and Infrastructure, creates fertile ground for technological advancements. We see immense potential for digital solutions to drive efficiency and innovation across these sectors.

Also, the budget introduces a new mechanism to facilitate the continuation of bank credit to MSMEs during their stress period. This is a crucial step in ensuring that MSMEs, which form the backbone of our economy, receive the necessary financial support to navigate challenging times. The introduction of a new MSME guarantee plan to enable loans up to Rs. 100 crore further underscores the government’s commitment to supporting small businesses. The increase in the limit of Mudra loans from Rs. 10 lakh to Rs. 20 lakh is another significant measure that will empower small businesses and entrepreneurs, enabling them to expand their operations and contribute to economic growth.

In the taxation domain, the removal of the Angel Tax on all classes of assets is a welcome move, promoting a more favorable investment climate. The standard deduction limit has been increased to Rs. 75,000 from Rs. 50,000, providing much-needed relief to taxpayers. Additionally, the lowest slab in the new tax regime has been increased to Rs. 3 lakh from Rs. 2.5 lakh.

Moreover, the government's decision to allocate Rs. 2 lakh crore for job creation over the next five years is a significant step towards addressing unemployment and fostering economic stability.

The synergy between these priorities and the digital realm will be key. Whether leveraging AI for better urban planning, using IoT for energy management, or developing innovative solutions for employment generation, the digital sector stands ready to contribute significantly to realizing this vision."

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