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'ESOPs Should be Made More Attractive'|
- By CXOtoday Staff, Jul 03, 2009 1521 hrs IST
- Tags : Kale Consultants, Budget 2009, STPI Extension,
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Vipul Jain, CEO & MD of Kale Consultants, gives his views on what Budget 2009 should provide the IT industry.
The industry has for long demanding extension of STPI? It has been promised in principle. Do you think that a year's extension is enough?
The extension of STPI should be done for at least 3 years, so that businesses can put in place a medium term plan.
The government is spending a considerable amount of money on e-governance. While the infrastructure is being set, there are a lot of reports where the projects have failed? Does the industry want some kind of an audit policy?
The government should focus on a few key projects and should take them up as "Missions" with a holistic approach. These should include, enabling changes in law, setting up of standards, monitoring of implementations, cross ministry or centre/state/local government coordination. The National Identity Card is one such project, which if implemented would be immensely helpful. Similarly the government should focus on 3-4 missions to be taken up. Secondly, additional budgets should be given to e-governance with greater transparency in bidding, selection, outcomes etc. for them.
What exactly are your expectations from the finance minister?
Our expectations from the finance minister include:
* The tax structure should be simplified (i.e, less cess, FBT etc.)
* ESOPs should be made more attractive
* The government should focus on bringing more of the "black money" into the tax net, instead of putting more burden on the salaried employees.
Which other changes in regulation do you think can the government make that will help the IT-ITeS industry?
For the IT industry, the government can look at better use of offset contracts in defense and other purchases - ensuring clarity and transparency in the same and also income tax benefits to exporters in DTA (not in STPI scheme)
Related Link
Software Exporters Need Focus in Union Budget
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