The first full-year budget of the Narendra Modi government will be presented on February 28.
Expectations are sky high! As the Budget day approaches, various sectors are lobbying hard for tax benefits and duty cuts while a few others want the government to ensure a stable and predictable taxation regime.
Bhaskar Pramanik, Chairman, Microsoft India, feels that the ambitious initiatives such as Digital India and Smart Cities require the support of strong technological infrastructure. For this purpose, budgetary support is essential. “Moreover, a policy framework for industry and SMEs in particular is also required to encourage innovation and adoption of technology.”
IT industry has a crucial role to play in the ambitious projects like Digital India and Make in India, says Partha Iyengar, Vice President and head of Research (India), Gartner. He feels that a manufacturing revival in an IT savvy India would be a tremendous multiplier for the Indian IT industry. “Similarly, the Digital India initiative has huge ramifications for the Indian IT industry and Indian industry overall as well. It will bring better access to the vast areas of untapped rural India, which can drive unprecedented economic growth across industry.”
Jaswinder Ahuja, Managing Director, Cadence Design Systems believes that Preferential market access (PMA) to Indian companies and removal of import restrictions for equipment used by R&D facilities are some measure that can nurture innovation, encourage the building of manufacturing units and create employment opportunities. “We hope the government will be able to address the need for a strong Goods and Services Tax (GST) that will include all indirect taxes.”
Koichiro Koide, Managing Director of NEC India is expecting investment and innovation in technology infrastructure to make the development of smart cities a reality.
Sanjay Rohatgi, president, Symantec India feels that a blue-print for sustained and sustainable growth is required with focus on simplification, predictability and consistency in overall tax regime. The budget should pave the way for expeditious implementation of e-governance projects, incentivising investments in world-class data centers and cloud computing infrastructure, he adds.
Anil Valluri, President, NetApp India & SAARC says that the Union Budget 2015-16 should address the technology need of the hour to make ‘Digital India’ a reality. “A substantial amount is required to develop a robust network infrastructure across the country. We also expect reduction in taxation for IT players. The budget needs to address the issues of simplifying the tax regulations, improve ease of doing business.”
Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter, Instagram.
