Budget Reactions - Naresh Wadhwa, President and Country Manager – Cisco - India and SAARC

by CXOtoday Staff    Feb 28, 2011

Naresh Wadhwa Cisco SystemsNaresh Wadhwa, President and Country Manager – Cisco - India and SAARC shares his post Budget reactions with CXOtoday.com

The budget this year provides a number of measures to promote inclusive growth, which in my opinion is crucial to sustain India’s development ambitions. The emphasis on rural development, both through banking and telephony initiatives, is very welcome.

I’m particularly thrilled about the allocation announced for rural telephony as this will surely give a fillip to boosting connectivity for villages.

The budget also has a number of initiatives to take banking to the masses. Among them, the move to set up banks in villages of more than 2000 people, the bill to allow RBI to grant more banking licenses and additional support to NABARD are particularly noteworthy.

On the downside, we would have liked to see infrastructure status being given to rural healthcare initiatives as well, as they play a key role in promoting inclusive growth.

On the overall industry front, there are a few initiatives such as treaties to avoid double taxation and reduction in corporate surcharge which will help in promoting growth.

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