The budgetary push towards adoption of digitalisation has been widely welcomed. But, the associated cyber security risk also needs to be looked into, say industry representatives.
According to Joydeep Bhattacharya, COO, TCG Digital Solutions, while moving to a digital economy may be easy in cities, in rural areas or informal sectors that are largely cash dependent, there may be some hiccups.
Speaking at a post-Budget interactive session organised by FICCI here, he said: “While the move towards digitalisation is welcome, a change in people’s habits is also important. The surface area for cyber attacks is increasing enormously.”
Interestingly, Harish Agarwal, Managing Partner - Kolkata and East India, EY, pointed out that the need for security in the cyber world is changing, and both the government and end-users need to take that into account. Random upload of personal information on social media or in the public domain compromises security to a great extent, he said.
Welcoming the push towards digitalisation as “a push in the right direction”, Agarwal pointed out that the “cost of cash” is “humongous”.
“Regulation drives adoption. And adoption drives regulation, too,” he said when asked whether there is need for more regulation.
Thrust on real estateSushil Mohta, Managing Director of Merlin Group, welcomed the focus on affordable housing and subtle changes in regulations — such as relaxation of tax tenures and movement to carpet area from super-built area for affordable housing projects.
“More developers are likely to come into the sector now with clarity in regulations with relation to affordable housing.
“The number of units (affordable housing) will go up. And the number of takers for such units is likely to see a jump, with easy finance options being proposed,” he observed.
Mohta further said developers of affordable housing are likely to announce new projects in and around the suburbs of Kolkata – covering areas such as Madhyamgram in north, Howrah in the west and Joka in the south.