Budget 2022 Expectations: 'Promotion of legal certainty, global consistency will foster innovation and investments in cybersecurity, AI and 5G'

The Union Budget 2022-23 is expected to be presented by the Union Minister of Finance Nirmala Sitharaman on February 1, 2022. The budget session of Parliament will start from January 31 and will continue till April 8.

Sharing expectations and suggestions for Budget 2022 on the IT and telecommunication sector, Priya Mahajan, Head of ASPAC Public Policy & Regulatory Counsel, Verizon Business Group said: "Over the last few years, the Government of India has made great strides to foster the growth and development of the Indian IT and telecommunication sector, strengthening the economic and digital transformation in the country."

"In particular, we are pleased to note India's huge rise in the World Bank's 'Ease of Doing Business' report," she added. 

As India sits on the cusp of a sustained period of economic recovery and growth, one of the keys to success lies in continuing to make the necessary reforms in the relaxing of tax structures that have played an integral role in developing the country’s economic prowess, Mahajan said.

The recently announced telecom reforms by the Department of Telecommunications is a welcome start. "To this point, we strongly believe that the continued promotion of legal certainty, predictability and global consistency will further foster innovation and investments, particularly in the vital areas of cybersecurity, Artificial Intelligence and 5G," she added.