Union Budget 2015: Hits and misses for IT & ITES sector, e-governance schemes

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 -

HITS

1. Encouragement to cashless transactions expected to provide a boost to IT vendors.
2. Direct benefit transfer leading to better e-governance, again likely to benefit IT vendors.

1. Lack of greater clarity on the Digital India initiatives.
2. No follow up on the smart cities announcement made in the last Budget.