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"The government has given fair impetus to the technology sector, and indicates its commitment to use technology as a platform to build a Digital India that reaches every citizen, by transforming 1 lakh villages into Digital Villages.

Focusing on AI in two consecutive budgets, the announcement of a national centre for AI supported by Centres of Excellence in 9 priority areas conveys how important this key technology is for the government, as the country aims to become a $5 trillion economy in the next 5 years. This furthers the announcements in AI investments and institutions made in 2018 which expands the scope of research and collaboration. However, the industry is looking to understand how these institutions are creating a favourable environment to foster entrepreneurship or AI research, and how the investment is creating on-ground impact, helping enterprises and deep-tech startups to create market value. The national AI portal is a good move to facilitate the vision of Minimum Government, Maximum Governance as part of Vision 2030, being a catalyst for emerging technologies, and a platform to unite the efforts of a massive institution like the central government.

The emphasis on increasing tax-paying base, and reducing tax burden on middle class, in addition to GST show the government's overall commitment to plug leakages and improve tax collection processes. The reform of the tax environment shows rapid strides towards efficiency and transparency. Given the interim nature of this budget, expectations around corporate tax, Place of Effective Management and skilling involvement in the IT sector have been missed.  We are hoping the full-fledged Budget in July will address key expectations and boost the output of the industry."

About Pegasystems 

Pegasystems Inc. is the leader in software for customer engagement and operational excellence. Pega's adaptive, cloud-architected software – built on its unified Pega Platform™ – empowers people to rapidly deploy, and easily extend and change applications to meet strategic business needs. Over its 35-year history, Pega has delivered award-winning capabilities in CRM and Digital Process Automation (DPA), powered by advanced artificial intelligence and robotic automation, to help the world's leading brands achieve breakthrough business results. For more information on Pegasystems (NASDAQ: PEGA) visit www.pega.com.

About Suman Reddy:

Suman Reddy, the Managing Director and Country Head at Pegasystems India, has been the reason behind the team which develops world-class solutions for the global CRM behemoth that helps Fortune 500 companies grow closer to their customers. He has led Pegasystems India on an explosive growth path over the past 10 years. He built the centre from the ground-up, with 4 team members, to 1500+ employees today, across Hyderabad and Bangalore. His team comprises of software developers, almost 80% of the company's global R&D strength, and more than a third of the company's global workforce (4500+). Suman has been pivotal in growing the company's revenues from 100 million USD to around 880 million USD revenue over the past 10 years.

Suman has been pivotal in growing the company's revenues from 100 million USD to around 750 million USD revenue over the past 10 years.

Known for his strong business acumen and leadership style, Suman has spoken at some of India's biggest tech events, like NASSCOM's Big Data and Analytics Summit 2016. He is a member representative for Pega at NASSCOM, CII, YPO, HYSEA and TiE, and is invited to comment as a technology thought leader by the government and media, on key issues affecting the industry and economy.

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