Arvind Bali, director & CEO, Videocon Telecom
A positive budget that increases disposable income, people can be more connected and leverage the benefits of basic telecom services. The trinity of Jan Dhan, Aadhar and Mobile that FM referred is indeed positive. Budget resonates Make In India spirit. Speedy implementation of 7.5 lakh kilometers in 2.5 lakh villages through NOFN will enable more rural communities to benefit and improve effective governance. Telecom fraternity is committed to and now the onus is on us to connect the last mile for the benefit of the society.
Partha Iyengar, country manager (research), India, Gartner Overall, the budget is a 'feel good' budget. It has a pragmatic and good balance of social programmes, industry (large and SME) friendly programmes and tax reforms, without going overboard to be populist or 'politics driven'.
In terms of the IT industry specifically there is a nod for the needs of the IT industry in terms of making a statement that the needs of the IT industry will be addressed in terms of ease of doing business, capital access etc. However, without reviewing the details of exactly how this is to be done, we will need to adopt a wait and watch approach to see how effective it will be.
Reducing the tax on R&D and innovation investments to 10% is a very positive move, both from the point of view of facilitating technology transfer as well as incenting companies to invest more in driving innovation. Along the same lines, the nod to the 'start-up ecosystem' in the country is a major positive. This is the first time such language has made its way into the budget and a good reflection of the fact that job growth has to be broad based by facilitating the SME segment and even the start-up culture in the country.
On education and skills development again, there are some strong announcements like creating a skills development fund, an innovation platform, and basic education availability within 5 kms of every village. BUT, where are the teachers going to come from?
Anil Valluri, president, NetApp India & SAARC
The budget is a bold and an assertive one. We are pleased to know that local businesses and budding entrepreneurs stand to make a mark globally through various schemes that will help them prosper. A number of steps have been announced to improve the ease of doing business; creation of Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of Rs 20,000 crore, and credit guarantee corpus of Rs 3,000 crore is a positive step to encourage young, educated, skilled workers who aspire to become first-generation entrepreneurs or expand their activities. With robust growth in the Digital India initiative announced last year, it is heartening to see that the government wants to further expand it and increase the network connectivity to more rural areas.
Pankaj Mohindroo, national president, Indian Cellular Association
The step up in the differential from 5% in the pre-budget dispensation to the current 11% is designed to create the necessary pull for investments from India and abroad into the industry and will realize the "Make in India" programme.
The Government will have to fine tune the differential keeping in mind that smuggling of finished mobile phones into the country from China has always been a big problem. The 11% differential when added to high VAT rate of 15% in major states will be very lucrative preposition for the grey market operators. He recalled that the previous NDA Government in the 1999-2004 period had brought the excise duty down to zero on mobiles to curb smuggling from China. Even without the differential, FDI flowed into India with an organized world's largest factory in Chennai was set up by Nokia during this period only.
Currently, the mobile market has grown to a high of Rs 1 Lakh Crores with compound growth rate of 30% plus. The differential will ensure that hunger of the Indian consumer can be fed by domestic manufacturing. But this has to be done in a manner which does not result in price rise for the common man, specifically in the low price feature phone segment.
Nigel Eastwood CEO, New Call Telecom The Government delivers on its promise of strengthening the infrastructure sector. We, at New Call Telecom, strongly believe that small and medium sized companies hold the key to growth and by giving start-ups a boost will only expedite their growth story. The reduction in corporate tax from 30% to 25% over next four years is a welcome one. The reduction on taxes on technical services from 25% to 10% will also cut down costs for service providers like us who have focused plans for realizing the Digital India dream.
Sanjeev Sarin, founder & CEO, Ozone Networks
The budget reflects a lot of confidence that the new government has shown since the time it took charge of the office. It also projects a highly positive and optimistic roadmap for companies and investors looking to do business in India, thereby giving a boost of confidence to FDI in India and clearly sending out a signal that its simpler and lucrative to do business in India. It's a budget for the working class and professionals. It gives a big boost to the farming and manufacturing sector and also encourages employment opportunities by giving preference and building a strong foundation to domestic manufacturing in India.
Rakesh Deshmukh, CEO and cofounder, Firstouch
It's a great budget for mobile phone manufacturing. The reduction in corporate tax from 30% to 25% over a four years period is very appreciable. The move to reduce the burden on younger companies by reduction in the rate on income tax on royalty and fees for technical services to 10% from 25% is very positive. Rs 1,000 crore for promotion of startups particularly in the technology sector brings great hope and encouragement for startups like us to develop more patent technology innovations to help promote "Make in India" & "Made in India" initiative. This time budget is for betterment of the entire economy.
Shantanu Prakash, CMD, Educomp Solutions Ltd
We are happy that the government has addressed the need to upgrade over 80,000 secondary schools and add or upgrade 75,000 junior/middle, to the senior secondary level. Such steps would effectively enable more children to attend schools and be part of the country's growth story. The emphasis on the national skills mission, the launch of welfare scheme 'Nayi Manzil' and easier loans for higher education are all steps in the right direction and hold promise for the immediate and long term. However, we are disappointed that the persistent and legitimate demand from the education sector to exempt schools from service tax on outsourced services has not been met. This will certainly increase the burden on parents across the spectrum.
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