Budget Will Take India to Next Level

by CXOtoday Staff    Jul 07, 2009

A brilliant blend of aspiration and pragmatism, the budget has been built on right ethos of taking the country to the next level through measures like boosting export momentum, creating right environment for attracting FDI, etc, said Suresh Senapaty, executive director and CFO, Wipro Limited.

From IT industry’s perspective, he welcomed the extension of STPI as well as abolition of FBT, which had a significant administrative overhead. Similarly, clarification of taxation on software packages and Sec 10AA relating to Special Economic Zones, etc will avoid undue litigation.

Increase in MAT has been balanced by expanding the timeframe for setting-off from seven years to 10 years, which appears fair, Senapaty said.

The budget addresses fundamental objectives of nation-building through focus on healthcare insurance, education, infrastructure, rural development, etc.

"In addition, it has been built on right ethos of taking the country to a next level through measures like boosting export momentum, creating right environment for attracting FDI, incentivizing renewable energy projects, providing across the board incentive for R&D investments and setting up of an expert panel for creating sustainable system of pricing petroleum products," he said.