Budget 2015 receives diverse reactions from IT-India

Partners were eagerly waiting for Arun Jaitely to disclose the budget 2015-16 which pushed them to stick to their television systems. New presented budget received mixed reactions from partners which The DQ week quoted.

“As everyone was expecting high from new government which turned out opposite. There are no positive provisions made such as rebate in taxation instead they somewhere increased which is harming the demand and supply of the market. We are not that happy from the new budget as it was expected to be formed,” said Sanjay Goel of Galaxy.

Most of the partners are happy with the budget 2015-16 as it has presented a vision to earn each and grow each. Commenting on the same Pankaj Aggarwal of Docket Care Systems expressed, “Business growth budget has been presented where everyone will receive proper business opportunities and rights. As per budget 2015 government will make sure the ordinary people will get benefit form the proposals.”

The announcements made in the Union Budget 2015 are certainly a step in the right direction to boost growth of the technology sector and also further drive investments.

Ravi Swaminathan, MD, AMD India and corporate VP, AMD South Asia said, “The exemption of all special additional duty (SAD) on inputs/components used in the manufacture of personal computers is a significant step towards integrating India into the global supply chain enhancing the technology capabilities in hardware.”

Further adding he said, “The thrust on NOFN will provide a tremendous opportunity to bring Digital-India's vision to the fore. The opportunity arising from the enhanced connectivity will address the issue of enhancing infrastructure penetration in the country. Broad band connectivity, improved access to services through IT enabled platforms, greater transparency in Government processes and special focuses on supporting software product start-ups are noteworthy initiatives towards enabling not only the industry but also citizens at large.”

As finance minister while presenting the budget said the government is establishing a mechanism 'self-employment' to support all aspects of startup business.

“New budget stressed on the importance of growth in the economy and infrastructure. There were no such new provisions but still we feel budget is more structured and in favor of country’s growth,” added Dayashankar Sharma of Divakar Computronix & Systems.

Adding to that Krishna Lakamsani, founder and CEO, IPay Tech India said, “Government allotted 1000 cr for startups but it has to be more clear in how this fund is going to be deployed last government also allotted desperate fund for startups but it did not reach to its potential because of lack of understanding in government officials how and where to deploy. If government is focused on startup tax when they raise investment it would help startups but there is no view on that.

As US government did American Dream act giving employers to benefit when they hire new employees it will increase and help startups to hire there are no incentives specific to startups."

The Union Budget 15-16 seems progressive in nature, with focus on physical, social and economic infrastructure, which would pave the road for future growth. The measures taken in this budget would improve 'ease of doing business in India', especially for foreign companies and partners are looking forward to the benefits proposed under the 'Make in India' program.

Aloke Ghosh, CFO & CS, Blue Star Infotech says, “It is encouraging to see that the Union Budget 2015 had a special focus on PM‘s ambitious Digital India initiative. The JAM trinity of Jan Dhan, Aadhaar, and Mobile & GST can prove to be game changing reforms taking forward the financial inclusion program and smoother, seamless transfer of subsidies to the intended beneficiaries. The budget looks at not only creating new jobs, but also incentivising self employment and entrepreneurship. It will introduce more competition, innovation and bringing global expertise and technology giving a boost to the 'Make in India' program. Its success is inextricably dependent on creation of skilled workforce. The National Skills Mission will enable skill development across several sectors and will help bridge the skill gap and make workforce sustain ably employable. Also, the removal of Special Additional Duty on IT products provides relief and addresses the issue of inverted duty structure.”

Everyone welcomed the Union Budget 2015-16 as a pro-people and growth oriented budget. On the corporate front, the focus on infrastructure and the desire to make taxation regimes simpler. Also everyone is looking forward to a long-term and sustainable growth path as set by the honorable finance minister.