Ankush SohoniFeb 28, 2007 15:30:00 IST
The overall focus of Union Budget 2007 on faster and more inclusive growth with a spotlight on rural development augurs well for the long term economic development of the country. This is a progressive and balanced budget from the economic perspective
It is heartening to see that Government is clearly committed to e-governance, having increased the allocation both at the Center and state level , with a new scheme for manpower development in the software export industry. Computerization programmes for the public distribution system and FCI will also enhance efficiency and benefit the common man.
The proposal to grant pass-through status to venture capital funds for undertakings in IT, biotech and other emerging sectors, and the service tax exemption for technology business services provided by technology business incubators and eligible incubatees will further encourage innovation and IP creation in India.
Significantly increased allocation to both primary and secondary education and innovative financing for infrastructure projects are positives and are imperative to sustain growth in excess of 9%.
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