Post-Budget Reaction by Mr. Vishnu Dusad, CEO of Nucleus Software Exports Limited

We congratulate the Finance Minister on presenting a promising and reassuring Union Budget 2015. The focus on startups will surely bring in solutions to some of the most difficult problems making use of the soft infrastructure of Aadhar and open APIs. It will encourage bright young minds to work on solutions in financial inclusion, healthcare, education, sanitation and all other sectors of economy. The positive measures that the Union Budget 2015 has focused are a step in the right direction viz. Banking the Unbanked and Funding the Unfunded, laying an equal emphasis on Financial Inclusion and the Indian entrepreneurial ecosystem. Last year, iSPIRT had shared that given the right direction, India has the potential to build a $100 billion software product industry by 2025 as against around $2 billion currently. We believe that this budget supports that direction towards setting up a world class IT hub, adding USD 13-14 billion revenues by FY15 and creating employment opportunities for millions. Also, the proposal of setting up a Rs. 1,000 crore fund for the Self Employment and Talent Utilisation (SETU) mechanism- a techno-financial incubation and facilitation program is a welcome move that will not only support existing businesses but will also give an impetus to the new ventures in the technology sector, creating over a lakh jobs and create “billions of dollars” in revenue. While India has already emerged as the fourth largest start-up destination, with an affirmative support from the Government, we have the capability of reaching newer heights. Nucleus Software is proud to be a pioneer and supporter of the Make-in India and Digital India journey that India has embarked on.