Budget Reactions -Shalendra Vashisth, Swafe
Shalendra Vashisth, Managing Director, Swafe shares his post Union Budget 2011 reactions with CXOtoday.com
This financial budget 2011-12 recognised the role Information Technology (IT) and IT Physical Infrastructure development plays in the overall economic development and service delivery however FM didn’t talk about the IT exemption under STPI, which most of the IT leaders expected. The increase in MAT is by 0.5 % which is extremely insignificant.
There has been initiatives in rural broadband connectivity, IT infrastructure backbone for GST, projected norms for entry of new banks in the private sector, the mandate for public sector banks to cover rural villages, national knowledge network connectivity of research institutions, implementation of technology advisory group and building e-courts, recommendations and focus on green among others will boost overall expenditure on IT Physical infrastructure in the country.
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