Friday, February 19, 2010

Shiv Shankar Devraaj, Bangalore

What’s new in this budget? Are we concerned about the budget or would it affect our living, is the question. We all know the budget which will focus on Aam admi, rebates, farming, debt waiver, defence, allocation, rural infrastructure, Yojana, Panchayat empowerment and TAXES…. What more?Oh yes! This year we have Unique Identification program in the budget…. Every body is talking about this card. Will it bring sleepless night to seldom rich class like the credit card, which created sleepless nights to middle income group? Now the question is whether this introduction of this card early or not? In the 60 years since independence, India has evolved from poverty to become the fastest growing economy in the world. The achievement is unprecedented both in its scope and in its relative silence. The radical change from an agricultural driven economy to Industrial and now IT and Telecom is something to be witnessed. The scope of IT and Telecom has high potential with growing demand for new entrepreneurs in the making to support supply of other necessary raw material, equipment and services. The services firms are growing in tandem. Government jobs were a blessing and it is known that Government is the largest employer. Gone are the days and saying now. It is the private limited companies and smaller firms who are creating or rather helping the Government is solving unemployment issues China is progressing as the Government is encouraging Entrepreneurs. Employment in India is an issue and SMEs are largely progressing and need encouragement. The Government in the past has been encouraging manufacturing, cottage industries. It is time to encourage boutique entrepreneurs or what we call Mom POP organizations, which create large employment and counting by the number of salaried class turning to employment, is huge in cities.Slash service tax and encourage entrepreneurs. Allocate newer schemes and encourage entrepreneur to pass the same privilege on to their employees. I hope this budget does not introduce fringe benefit tax again.The Government should focus on middle income group very closely as the taxes on them is becoming a burden. Probably the Government should encourage high turnover boutique companies. I would be happier to see the service tax and professional tax rebates or some out of the box thinking and not negating the fact of the living standards of people in urban cities or metros.

Shiv Shankar Devraaj

CEO & Founder

K2 Communications Pvt Ltd,

PR Firm

Bangalore

Mobile - 9980022272

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