East partners welcome ICT moves of the new government

Union Budget 2014 is a very policy driven approach which shows the basic frame work and determination of Indian Government towards Inclusive development. Those in the IT industry are hopeful of Government initiatives for ease of doing business, simplification of taxes and registration which need to be studied in detail. The foundation stone laid in this finance bill with prime focus on primary needs like education, agriculture, health and housing will have long term implication on investment, employment and prosperity. A generic hike in income tax slab, investment and housing loan interest exemption across the board will also give an impetus towards reviving our economy and affording housing needs of the common people at large.

"From Bihar's point of view, IIM and Bhagalpur cluster is a major breakthrough apart from continuation of backward development fund. However Bihar needs more focus and attention due to several challenges including that of present economic scenario, uncertain floods, lack of industries and huge unemployment. We were expecting special package, time lines on pending projects to take Bihar on the national average without which it is difficult for the Nation to attain the momentum of growth and economic development. We were expecting a National Level Institute here with special focus on Skill development and vocational education in Bihar for ensuring inclusive participation and reduce the digital divide," says PK Sinha, director, Astric Group of Companies, vice chairman, CII, Bihar State Council and Member, ICT Core Committee, Govt. of Bihar .

From CII, Bihar State Council perspective it seems, the government is now moving towards next generation reforms as global player with increase in FDI in select sectors like Health, Defence, Infrastructure and Manufacturing. "We must appreciate the provisions and rationalization of import duties, excise and taxes which is going to help our Industries and SME. Incubation, Innovation and Accelerator concepts with provisions of Venture Capital Fund is going to give a new dimension for a long term solution and directly linked with huge employment and economic development. This is really encouraging and going to open huge panorama of and SSI set-up across India which is the dying need of the hour for reaping the demographic dividend. However there was a need to rethink on the SME capital sizing as more companies can enter into the preview which generates larger no jobs," adds Sinha.

From ICT Industry view, it's a welcome move to reduce imports duty on spares and small LCD panels which gets into our country for manufacturing and will promote SME to setup units locally. Identifying the key sectors of Electronic Hardware Manufacturing and ITeS Industry will really give an impetus for faster development and self-dependence. India has been the key player in promoting and supporting ICT sector across the globe by technology, human resources and innovation.

The channel partners across East are looking forward toward telecom and IT which are two most important pillars for empowerment and entire world is looking towards and opportune time for us to reap the dividends and transformation of India into a super power.

"The Union Budget 2014 is focusing on attractive packages. If the overall infrastructure development of the industrial sectors is enhanced, we stand a good chance to benefit from it. Computers and laptops expenses coming down, there will be more usage of these electronicgadget, which means adding to our profits. However, simplification of overall taxation has been considerably ignored. I would have preferred more coverage on this issue, says," Kolkata based Sanjay Chajjer, CEO, Advance Management Systems.

Quoting Rajiv Ranjan, Director, The IT Zone, Patna, "the budget is undoubtedly IT friendly will boost exports. Imports have been discouraged. Tin this stance, indigenous manufacturing units stand a better chance towards development. The tax benefits and relief is like a feather on the cap. However, the government has ignored the small sectors of software. There are enough points enumerated on the development of this small and micro software units but nothing has been elaborated on the infrastructure or rather how the government aims to achieve this feat. I feel the budget should have shed more light on this factor," What are the reactions for Goods and Service Tax (GST) implementation?

"The GST Implementation will be better for us as the Central Sales Tax or CST charges will be reduced or saved," Debojyoti Gupta, CEO, Universal Computers. Siliguri based Manoj Baid, President, North Bengal IT Traders Organization also says "I am happy with the budget due to the implementation of GST which will work towards replacing all direct taxes levied on goods and service, thereby bring equality on IT business on a pan Indian scale."