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Union Budget 2013
"Budget 2013 is about stability, positivity and I believe is a better budget than the last year. This budget has stressed on some vital areas such as youth, education and skill development. There was not much spotlight on IT and technology as such, but it is good to see the serious intent of the Government to pass a GST law. Moreover, the Government’s move to modernize and develop infrastructure will be much appreciated by the industry."
Harsh Chitale
CEO & Whole-Time Director
HCL Infosystems
"The 2013-14 Budget is optimistic for us, as we see growing potential for the surveillance industry and gradual adoption of technology to secure the society. In my view, the Government’s priority to allocate infra debt funds and create a regulatory authority for the road sector would surge investments in developing the infrastructure of the country. The special investment allowance of 15% for investments more than Rs.100 crore in plant and machinery will encourage the authorities to further their investments. In addition, there is an increased focus on establishing two ports and ATMs at all public sector banks, that will bring in economic value and also highlight the need for a secured monitoring system in this sector."
Sudhindra Holla
Country Manager
Axis Communications India
"The budget was austere in character and as expected stressed on fiscal prudence. What should please us in corporate India is the fact that the FM has laid a lot of importance on two specific areas which are imperative to boost growth, namely infrastructure development and medium and small enterprises. I am also particularly pleased with the emphasis on national skill development as well as the separate amount of Rs. 200 crore to fund 'technology for common man', which is perfectly aligned to our corporate vision. Overall, not much that is spectacular or game changing in the budget, but well balanced."
Pradeep Nair
MD
India and SAARC, Autodesk
"It is not a flamboyant or even a populist Budget, as many would have expected, for the simple reason that early next year the country goes for the General Elections and Finance Minister P. Chidambaram’s chief concern seemed to be reducing fiscal deficit than curbing inflation. There was also not much for the capital markets to rejoice even though the FM indicated that he was looking for growth and looking forward to attract capital and investment in roads, highways, ports, etc. The FM also thinks that inflows of funds are crucial as the country needs $75 billion during the fiscal year."
Pramoud Rao
Managing Director, Promoter
Zicom Electronic Security Systems,
"Overall, it is a practical budget, in the backdrop of a grim macroeconomic scenario, a difficult fiscal situation and compulsion of ensuing General Elections in 2014. That way, the Budget is on the expected lines. Having said this, however, there are no path-breaking measures to push economic growth of the country and to take it out of its present stagnating trend. Lack of clarity on a timeline for introduction of the Goods and Service Tax and the Direct Tax Code yet, is a major disappointment. The IT sector, one of the major drivers of growth, employment and exchange earnings, has again been overlooked without any tangible steps to boost the sector. To conclude, it is not a bad Budget, but definitely another missed opportunity to kick-start the Indian economy back on growth track."
Govind Rammurthy
MD & CEO
eScan
"Overall, the Union Budget for 2013-2014 is a realistic one, hinged on growth and development-oriented expenditure. The focus on technology infusion in agriculture and provisions regarding MSMEs will spur the growth of the economy in the right direction. From an IT standpoint, this is a marginally encouraging Budget. We were hoping for the discontinuation of MAT on SEZs and apportionment more grants to ensure secure data access which hasn’t been considered."
Jagdish Mahapatra
Managing Director
McAfee India & SAARC
"Though the Government has announced the National Manufacturing Policy that aims to increase the share of manufacturing in GDP to 25% within a decade, the Budget has failed to reverse the inverted tax structure which has been impacting the industry for years now, making India a predominantly import-dependent country."
J. V. Ramamurthy
President
MAIT
"Reforms have progressed in the areas of Direct Tax Code, GST, financial markets regulatory authority for road sector and Tax Administration Reforms Commission to bring about a tax regime, which will be more proactive in the closure of issues rather than litigious. It addresses sustainability initiatives through investments in renewable energy, waste to energy projects in PPP model and has incentives for wind energy projects. The Budget has proposed steps towards inclusive growth with measures around financial inclusion, investments in education and welfare of women and children. Overall, the budget is balanced and realistic."
Suresh C. Senapaty
Executive Director & Chief Finance Officer
Wipro
"The announcement of a GST law that will be drafted by the State Finance Ministers and the GST Council and allocation of a sum of Rs.9,000 crore towards the first installment of the balance of CST compensation for States is a welcome step towards much-awaited fiscal consolidation. Further, the 15% tax allowance for investments over Rs.100 crore is amongst some of the important measures announced for promoting investment in the country".
Rajat Jain
MD
Xerox India
"We believe a lot of the key initiatives outlined will leverage technology at the core whether banking norms compliance or ATM expansion or transforming post offices and the textile sector or rolling out Aadhaar-enabled payments for various government schemes, among others. Additionally, funds have been allocated for promoting science and technology innovation for the common man. All of these augur well for the local IT industry and will improve competitiveness of industries and significantly enhance service delivery".
Rajesh Janey
President
EMC India & SAARC
"The benefits announced for the key sectors like infrastructure, agriculture and education are bound to positively impact the economy. However, in overall terms, we do not see the Budget reviving the consumer sentiments in the absence of any specific incentives to boost consumer sentiment itself. Further, the increase in the excise duty on mobile phones will not have a positive impact on the mobile industry and should lead to an increase in prices for end- consumers".
Asim Warsi
Vice-President
Samsung Mobile
"This budget is clearly a response to the prevailing socio-economic circumstances in the country. The Finance Minister has put forward a people’s budget.
Deepak Kapoor,
Chairman
PwC India
From a technology perspective, allowing funding for technology incubators located within academic institutions to qualify as CSR expenditure as per the new Companies Act will give a huge boost to entrepreneurs and start-ups...
N. Chandrasekaran
CEO & MD
Tata Consultancy Services
Finance Minister P. Chidambaram who was appointed last August has presented eighth Budget of his career. The month of February in which the Union Budget is presented brings in expectations from all corners.
Shri P. Chidambaram
Finance Minister,
Govt. of India
Voice of VARs
With the Government cutting down economic growth to 5 %, do you thing India’s growth story is now over?
Will FDI in Retail help bring down inflation ?
 
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