Finance Minister Arun Jaitley had some good news for start-ups and small companies in his Union Budget 2017 speech. For starters, he announced that for small businesses with an annual turnover of Rs 50 crore they will now have to pay 5% less income tax. This brings down their income tax level to 25%.

A high-speed Digital Highway

The Government big promise through BharatNet Project under which more than 1,50,000 gram panchayats, will have access to high-speed broadband connectivity, along with WiFi hotspots and other low-tariff digital services.For this project finance minister proposed the allocation of Rs 10,000 crore in 2017-18.This project considers Digi Gaon, or Digital Village, the initiative will be launched to provide these using WiFi hotspots. 

More power to  Electronic manufacturing

Finance minister Arun Jaitley increased the budgetary allocation for initiatives such as Modified Special Incentive Package Scheme (M-SIPS) and Electronics Development Fund (EDF) to Rs 745 crore in 2017-18.More than 250 investment proposals for electronics manufacturing, with investments adding up to Rs 1.26 lakh crore, had been received in the past two years. 

CERT protection for financial sector

The government is finally set to implement a longstanding demand to enhance cyber protection for the country's financial systems, especially as digital transactions increase post demonetisation.Finance minister Arun Jaitley proposed creating a Computer Emergency Response Team (CERT) for the financial sector that will work in close coordination with all financial sector regulators and another stakeholder.

Other related news:

Sensex gain 486-point as relief at inaction, not because FM Jaitley's TEC

Here's what Analyst reacts on Arun Jaitley's Budget 2017

Union Budget 2017: Market go green, Sensex flow 300 points, Nifty recover 8,600