Friday, February 19, 2010

Mr. Shakti Sagar, Managing Director, ADP Pvt. Limited

Expectations from the Budget 2010

There are certainly a need for balanced allocation and thrust for social & infrastructure projects. The government is also expected to continue the stimulus provided to the industry as the economy is just beginning to warm-up. The allocation of funds to increase the mechanism for internal security and focus to arrest environmental degradation & address climate change issues are other major expectations from the government.

Biggest issues that needs to be addressed in the budget

Out of the various issues reduction of Fiscal deficit is very important. The government should also take steps to rein in food price inflation. Security of the citizens is another issue for which adequate funds should be allocated by the Finance Minister.

For IT industry

Rather than a year to year extension of the STPI scheme, a 3-5 year extension is something which IT sector would expect. The budget should also provide the same concessions/benefits to an STPI unit as an SEZ unit. Further, the incentives provided by other developing countries have made operating from those countries more attractive as compared to India. The government should take essential steps to handle this also.

STPI should also be made the single nodal agency for all approvals & clearances including central excise & customs.

On personal front

Under the current tax provisions, not many exemptions/deductions are available to individuals, especially the salaried individuals. The peak rate of 30% should be reduced to 25%. This will increase the purchasing power of the individual which in turn stimulate demand for core sectors.

· In view of the rising transportation costs - this limit should be enhanced to provide relief to the salaried individuals – raise the current Rs.800 per month to Rs 2000 per month.
· Raise the limit for claiming deduction u/s 24 of the Act on interest paid for loan taken on house property for a self-occupied house.
· Raising the limits u/s 80C
· A mechanism to encourage SME clusters to make them globally competitive.

Mr. Shakti Sagar
Managing Director
ADP Pvt. Limited

Profile – ADP Pvt Limited
ADP Private Limited is a 100% fully owned subsidiary of Automatic Data Processing Inc. (ADP), (a Fortune 300 company) with nearly $9 billion in revenues and over 585,000 clients, is one of the world's largest providers of business outsourcing solutions. ADO India is engaged in providing Information Technology and Information Technology Enabled Services to ADP’s business divisions worldwide. ADP Private Limited currently operates out of its world-class facilities located in Hyderabad and Pune, providing the opportunity of working on multiple processes, domains and technologies for over 3500 Associates.


Profile – Shakti Sagar
Shakti Sagar is a visionary leader and brings with him over thirty two years of cross-function experience in the Office Automation & Information Technology industry. As the Managing Director of ADP Private Limited, he is responsible for Indian operations of ADP, which has campuses at Hyderabad and Pune comprising of over 3500 employees. Shakti is also the Vice Chairman of CII – AP Chapter

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