The budget should aim at providing a boost to technology adoption for citizen services.
NEW DELHI: Business India's all attention is on February 29, the day finance minister Arun Jaitley will present the Union Budget 2016. The Indian IT industry too has a wishlist ready for the government.
With less than a week to go, here is what Indian technology companies, ranging from mobile to electronics, expect from the upcoming Union Budget.
1) Bhaskar Pramanik, chairman, Microsoft India
I am looking forward to the government presenting a growth-oriented budget that addresses gaps and sets a clear way forward to ensure that the optimism is not short-lived.
Key things Microsoft India chairman wants from the Budget 2016:
* Create the right environment to boost India's startup ecosystem
* Make technology access a reality
* Provide a boost to technology adoption for citizen services
* Address regulatory and tax issues for the software industry
* Rollout of GST
* Boost skill development
2) Shrikant Shitole, managing director, India, Symantec
Allocate 10% of the IT budgets exclusively for cyber and information security.
3) Sudhin Mathur, director, smartphone Business, Lenovo Mobile Business Group
Focus on simplified tax structure, better infrastructure, robust component ecosystem and electronic R&D. Also, we really hope that the GST Bill too gets passed soon.
4) Rajesh Agarwal, co-founder, Micromax Informatics
Growth, infrastructure development and employment should be the three big pillars of the upcoming Union Budget 2016. In the budget, the government must do away with extremely cumbersome and complex IGCR processes for availing duty concessions on import of parts, components for manufacture of mobile phones.
5) Ashraf-el-Arman, MD, Xerox India
Setting up of a strong and flawless tax regime should be a major goal for government in this year's budget. Implementation of GST as per the deadline will mostly result into a lower service tax rate and ease the way we do business and create grounds for innovation.
6) Arvind R Vohra, CEO & MD, Gionee India
The manufacturing sector still faces few challenges and the Government should look at the right policies, incentives and infrastructure. The last budget had seen an increase in the excise duty on smartphones to 12.5 percent which was a major drawback for the industry leading to an increase in smartphone prices. The upcoming budget should definitely look at reforming the excise duty structure and work around the prevalent rates of sales tax, and logistic costs.
7) Chandan Chowdhury, managing director, Dassault Systemes
We look forward this year, to a budget focussed more on 'smart cities'. The Government must set aside a share of PPP for fund mobilization of smart city projects. In order to accelerate the GDP growth of our nation, the budget also needs to focus on 'high technology skill development' and create industry ready talent.
8) Dinesh Aggarwal, joint managing director, Anchor Electricals
I expect the Budget to facilitate the ease of establishing business, ease of creating intellectual property, ease of running the business, ease of borrowing money within and outside India to ensure business growth. I expect the policies of this year to focus not just on manufacturing in India, but ensure that this manufacturing thrives in India.
9) Kenny Ye, MD, UCWeb India: (Alibaba Mobile Business Group)
Increased access to internet connectivity in rural India and higher mobile internet penetration in tier III & IV cities should be a priority to fill crucial gaps in the internet ecosystem. Removal of angel tax, cut in direct and indirect taxes will provide the much-needed impetus for entrepreneurs. The ecommerce sector is also fraught with redundant taxation laws that need immediate overhaul.
10) Kulpreet Kaur, co-founder, Shop Pirate Coupons
From this budget we expect that in this budget government will give special attention to income taxes and widen the tax the tax net and reducing the burden of current tax payers. Also for a wider participation in NPS and to boost savings, the Government should exempt withdrawals from taxation.
11) VP Mahendru, chairman, Eon Electric
There is need to promote LED lighting industry as it will go a long way to save power for the nation and reduce pollution. The government should set up an interest refund rebate for manufacturers who have shifted to LED production.
12) Sunil Jose, managing director, Teradata India
The government should also consider reducing excise duty on hardware so that better technology becomes more accessible to a wider market.
13) Anand Navani, country manager, Verint Systems, India
The industry expects significant reduction in import duties of security equipment and facilitation of import to make these items within the reach of common man so that surveillance in India becomes a community initiative.
14) Mahesh Lingareddy, founder & chairman, SmartronStart up and stand up India initiative must be supported through substantial actions and measures on the ground.
15) Nigel Eastwood, group CEO, New Call Telecom
The Finance Minister should bring clarity on deductions of one time spectrum charges paid by telecom operators. The government needs to issue a clarification that spectrum fees is an intangible asset eligible for depreciation under Section 32 of the Act.