Thursday, February 11, 2010

Mr. Rajeev Gupta, President, Fujitsu Consulting India Pvt. Ltd.

India is amongst few nations which have registered growth even during the times of global recession. The budget on the anvil should play a vital role in retaining the momentum of growth and addressing issues related to it, besides curtailing the spiraling inflation through sector specific interventions.

In spite of major economic reforms, the country's tax regime has continued to remain an area of neglect. A definitive action towards a unified GST (God Services & Tax) regime that can meet the requirements of the changing times and simplify administrative hassles in the current system will be appreciated. The implementation of the GST regime is also expected to remove the anomalies on whether software is liable for VAT / Service tax. Though the Direct tax code implementation has been deferred, it has set expectations of a lenient and friendlier Income tax structure for the common man.

The tax rebates to STPI units under section 10A were extended by one year, last year. The STPI units are optimistic for another year's extension. With the growth estimates for India being discussed at around 7+% and the gradual recovery in the risk appetite, more dollar inflows can be expected. This would mean an INR appreciation against the dollar. Some steps to manage this appropriately will go a long way for the exporters. All in all the union budget is expected to come with its share of reforms and grants. The anticipation as always is one of optimism and hope for the corporate sector as a whole."

Mr. Rajeev Gupta

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