Budget Expectations - Jaswinder Ahuja, Cadence Design Systems, India
Jaswinder Ahuja, Corporate VP & MD, Cadence Design Systems, India, shares his expectations from the Union Budget 2011 with CXOtoday.com
“In the 2011-2012 fiscal year, the Indian economy will have to walk a tight rope between crossing the ‘double digit growth barrier’ and curbing inflation. Increased financing of infrastructure development projects should encourage inclusive growth and reduce pressure on the Metros. In this regard, technology can help ensure that measures undertaken to move India forward are not limited to urban centers alone, but percolate to all corners of the country.
Critical issues, relating to semiconductor and electronics industry that need to be addressed by the Union budget, center around steps to encourage domestic electronic manufacturing which is yet to take off in the country. Extension of tax exemptions, funding of R&D grants, amendments to tax and duty structures, reservations in Government tenders for locally developed intellectual property along with promise of a clear and concise integrated Goods and Service Tax policy are some of the core announcements that are being keenly awaited.
Amendments in direct taxation policies with regard to ESOPs will be much appreciated by employees. ESOPs should be taxed as capital gains at the time the gains are actually realized. The Government should also take necessary steps to notify the safe harbour rules for transfer pricing.”
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