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The first Union Budget announced by Finance Minister Arun Jaitley has set the ball rolling for the nation and proved to be a people’s budget. With the relaxation in tax structure and working on GST, FM tries to please the industry. Where few believe the overall budget tone was positive and keeps the country’s feel good factor going, some believe that the budget has left many questions unanswered. While some are happy others seems to be dissatisfied.
In an exclusive chat with the industry experts from pan India, Bhawna Satsangi finds out their opinion on the first Union Budget presented by the Modi government.
Bishal Kumar, Director, Dynamic Computer Services, Jamshedpur
“The budget seems to be promising. With the change in taxation policies there is a good opportunity for the industry to grow. We hope to recover our losses and see a balanced future in months to come. I appreciate Modi’s move and the reforms he had made in taxes for IT industry.”
Arun Kumar Dey, President, ITAO, Cuttack
“We do not have clarity how the customers will be benefitted from the budget. Uniformation of tax will help us to grow so we want this to happen. No doubt, it is the people’s budget as the government has laid its focus on infrastructure sector and as the infrastructure develops, IT will grow at a pace with it. We need to create demand for IT, want to grow on technology and for that uniformation of tax is necessary. IT penetration is necessary and the government should encourage industry so that the technology is approachable to common man.”
Sukant Mohanty, Director, Linker, Cuttack
“The first Union Budget by Modi Government is remarkable. Tax reduction is a surprise for us and giving opportunity to end user. However, there’s a big challenge for online marketing as it is killing the traditional market in a bad way. The consumers are facing the problems of service support. These online traders are faking anti tax and local tax. With the price difference in the product online and retail it has become almost difficult for dealers to operate. We want government to redefine online industry and collect VAT and entry tax from them to have a healthy competition.”
Dayanand Ratho, Director, Cyber Software Services, Bhubaneswar
“The budget seems to be satisfactory as many of the product prices will reduce now. With relaxation in tax structure it is a remarkable move by the government. We also want government to take some action on online trading.”
Satyajit Panda, Director, Shiva Computing Solutions, Bhubaneswar
“The budget seems to be promising for the industry with decline in few products prices and reformation in tax structure. The import duty will be relaxed which will lead to decline in prices of the products and we will see market to revive drastically by the year end.”
Sanjeev Bhattacharya, Director, E-Solutions, Guwahati
“The budget has brought very good business opportunities for the North East traders. North East has been very strategically placed as we all have huge investment in the state ad with the promising budget we will see lot of opportunities in North East in months to come.”
Sarvesh Patni, Director, Sarawgi Infotech, Guwahati
“The budget has indicated a roadmap for growth with focus on a lot of reformatory measures. It also encourages consumption and manufacturing. States like Assam, Jharkhand, North East have received lot of allocations in this budget which will prove to be beneficial for the business.”
Dipankar Chakarborty, Director, GNRC Infotech, Guwahati
“With special attention to North East region, the industry will going to grow manifolds. The budget has been very promising for us and draws inspiration for the industry. It has provided excellent direction mandates for the North East region. It is a sensible progressive budget with special emphasis on on investment, infrastructure, education and technology.”
Akhilesh Khandelwal, Director, Systematix Technologies, MP
“The budget is very promising as Modi is a technology oriented person. The campaign in net connecting is very promising. With this budget we are feeling confident and in next six months we will be back to progressive path with rapid speed.”
Sudheer Arora, Computer Gallery, Indore
“The budget is no doubt beyond expectations. It has touched all aspects of the economy and seems to be an innovative with new ideas. Overall the budget seems encouraging.”
Nitin Poddar, Net Com Computers, Indore
“The budget is encouraging and forward looking but lacks incentives for industries. Nothing has been said on excise limit demand, introduction of GST, simplification of tax structure and finance constraints to MSMEs. However, the focus on infrastructure seems to be encouraging and will automatically increase the IT expectations.”
Amar Babu, President, MAIT
“MAIT welcomes the long pending correction of inverted duty structure from the IT Hardware sector perspective. Also, some telecom products (non-ITA) have been made liable to 10% basic customs duty, whereas all goods required for manufacture telecom products would continue to enjoy exemption from BCD. These steps will definitely help boost domestic manufacturing”
Anwar Shirpurwala, Executive Director, MAIT
“There are several positive signs in the budget that would go a long way in making India as an investment destination. Increasing FDI limit in defense and insurance sectors are some steps in that direction. We also welcome the government’s commitment to address retrospective taxes. MAIT had made several other recommendations and hope that they would be addressed in the near future.”
Dipesh Mangla, CNT, New Delhi
“The budget is constructive for us as they have reduced some custom duties. It is a promising looking forward budget for better business in coming quarter. This is the first budget by new government and we have that they will do much better in next budget announcement. At least the sentiments which were down those have increased and we are looking forward for requirements. Telecom vertical is very promising for IT industry and the government had tried to do something. Since most of the stakes of telecom are held by government, the sector was not fruitful form last 4 years but with the announcements for telecom sector it has become more active and in few quarters it will become lucrative. We feel things are constructive so IT also automatically becomes constructive.”
Nilesh Kuvadia, ITCG Solutions, Vadodra
“The moves aimed at spurring investments are laudable but nothing has been mentioned on the payment issues of small scale industries and individuals. So it seems nice on paper but it has not touched most of the problems of the industry.”
Pavan Sanghavi, Technofirm Software, Ahmadabad
“The budget looks realistic and was in line with expectations. It has focus on manufacturing and infrastructure to a great extent, investment allocations to build smart cities, increase broadband penetration of Indian villages, FDI boost in e-commerce, GST proposition, is all steps in right direction and proved to be a positive stat to a long term goal.”
Manish Kamdar, Rincon India Solutions, Mumbai
“The budget has set the tone for getting India growth back on track. With the increase in FDI in sectors like insurance, Defence would kick start the investment cycle. Emerging sectors like e-commerce, healthcare and real estate will add positivity to business. With the announcement of setting up more IITs, IIMs, AIIMS it will definitely going to boost investment in IT industry as well.”
Ramakrishna, iValue Info Solutions, Bangalore
“With emphasis on infrastructure, the budget promise to create job opportunities for many. Seems to be realistic in nature, the maiden budget by the NDA will also revive the manufacturing sector. The emphasis on key infrastructure like roads and airports will revive investors’ confidence in key sectors of economy.”
Rakesh Chawla, Century Computers, Chennai
“Budget 2014 is an optimistic move by the government for the IT industry. We welcome the budget with open arms and applaud government’s decision to support start ups in software space. The emphasis on education and various e-governance projects has boosted the confidence of the people in the government and seems to get on the revival track through the new initiatives proposed in interim budget 2014.”
Sanjay Aggarwal, Director, Umbrella Infocare, Noida
“A budget that focuses on speed, scale and skill has lot of emphasis on improvement and expansion of infrastructure widely. With the proposal of making roads, smart cities, it is a good sign of revival in the IT industry.”
