Pre Budget Expectations From Mr. Srinivasan H R, Vice-Chairman & Managing Director, TAKE Solutions
• What is your expectation from the Union Budget?
The focus of this budget needs to be on employment generation and capital formation; two things that are necessary to kick-start the economy. Job creation can only happen in the private and agricultural sectors. It is the function of adequate capital formation to fund growth and global expansion.
• How do you think it can impact the IT industry?
The last two decades has seen very large job creation in the IT sector in India. This industry has to now transfer emphasis from scale/arbitrage to IP led value play. For this, we need long term investmentswhich can create the next wave of job creation and global presence. I expect this budget to deliver suitable incentives for IT product companies, especially those operating in the high-end domains of Life Sciences, Engineering Services and other niche capabilities.
• What are the announcements, which if made, can have a positive impact in your organization?
Tax credits for R&D efforts and deferred benefits for global expansion investments would have a positive impact on our organization.
• According to you what kind of announcements can be made with respect to GST, in order to boost the Indian economy?
This has been substantially delayed. It is vital that we move to a consumption-based tax base. I expect the political deadlock on GST to be resolved during this budget session and we will see its application from 1st April 2016.
