Arun Jaitley came up with some concrete announcements this time, but still left many unanswered questions. For instance, there was no clarity on the Budget 2014’s key announcements such as Rs 10,000 crore startup fund and smart cities.
Budget 2015 does cover some part of these priorities. However, some concerns remain and we would urge the government to address these issues on priority."
Experts feel the initiative to provide broadband connectivity to 2.5 lakh gram panchayats by December next year is a ‘transformative step’ taken by the government to connect rural citizens in information-dark areas of India.
Budget 2015: 'Higher service tax may lead to rise in pirated software in the country', says Microsoft
Many of the announcements made in previous budget, which were geared to minimize/resolve transfer pricing litigation are yet to be implemented.
IESA urge the government to look at the critical demands from the ESDM sector like Deemed export status for ITA1 products, Setting up of Electronics Commission, Extension of MSIPs scheme for 5 years....
Along the same lines, the nod to the ‘start-up ecosystem’ in the country is a major positive. This is the first time such language has made its way into the budget...
Excise duty is restructured on certain goods such as wafers for use in the manufacture of integrated circuit (IC) modules for smart cards from 12 percent to 6 percent...
SETU will be a Techno-Financial, Incubation and Facilitation Programme to support all aspects of start up businesses, and other self-employment activities, particularly in technology-driven areas.
"Bankruptcy law reform, that brings about legal certainty and speed, has been identified as a key priority for improving the ease of doing business," he said in the Budget 2015-16 presented to Parliament.
Andhra Pradesh had proposed to deliver broadband connection with 10-15 mbps download speed to each 12 million households for Rs 150/month that are planned to be covered under state designed project.
Finance Minister Arun Jaitley today announced Rs 1,000 crore for promotion of start-ups and entrepreneurs particularly in the technology sector.
Recognizing the need for greater penetration of IT Services domestically, the Survey notes that the Government’s ‘Make in India’ mission has included IT and BPM among the 25 focus sectors.
Sanchit Vir Gogia, Chief Analyst, Greyhound Research says that announcements made in Budget 2014 have remained mere aspirations.
Anwar Shirpurwala, Executive Director of India's apex body of IT hardware manufacturers, MAIT, explains how India has a big opportunity in ICT manufacturing and how Budget 2015 can meet them.
the Indian IT industry has pinned hopes on the Modi government to push reforms and policies that will bring stability to the sector and maximize growth.
Burdensome procedures and costs for BIS certifications which are duplication of efforts and in addition impacting timely market launches should also be done away with immediately.
Though, the Government has aptly recognized skill development as an engine for economic growth, the industry expects that weighted tax break be extended to the IT/ITeS sector, to incentivise training and skill development.
The government in its upcoming budget must ensure a simplified tax regime to relieve the burden of exorbitant taxes on this account.