Quick Glance at the Post Budget Reaction from IT Players

Vipul Jain, CEO, Advancells says, "My first reaction is of a bit of disappointment from the budget proposals. There is hardly anything announced for the healthcare sector. Though the coverage of rupees one lakh per family and a top up of 30,000 for senior citizens is a good move towards getting India towards a universal healthcare system but there is no roadmap laid for any healthcare sector reforms that the country badly needs.

”There is no additional announcement or clarity towards the proposals already made in Startup India and Make in India initiatives of the government that are already announced nor there are any incentives for innovation and research. Some tax exemptions are a welcome move but we had expected a lot more" he added.

Neeraj Mittal, JMD, Bonita India reacted on the same and says, “Union Budget 2016-2017 seems to be in favor of startups with the aim to accelerate entrepreneurship in India and make it a robust part of the economy. 100% tax exemption for three years except MAT will motivate start ups to gain momentum in their respective businesses.  The budget also caters to ensure speedy registration to boost start-ups with the succor from companies act”.

“It is a year of boosting entrepreneurship for SC/ST & women and encourages entrepreneurship skills among the socially backward sections of the society. Stand-Up India scheme seems promising for potential budding ideas with the bank’s assistance. Start up enterprise is an indispensable section of the business fraternity which helps not only in exploring potential business opportunities but also plays a substantial role in job creation”, he added.

Manish Sharma, President CEAMA and Managing Director, Panasonic India and South Asia said, “The Indian economy is growing at a rapid pace despite the global slowdown. The Finance Minister has clearly highlighted the growth pillars of the Indian economy in Agriculture, Rural, Social sector, Skills, Ease of Doing Business and Tax and Compliance reforms. We are happy with the government impetus on Make In India by providing tax and duty benefits and these will go a long way in strengthening the manufacturing capabilities of India. Another important milestone has been the use of technology to increase accountability of the government, authorities, and courts is a welcome step and will provide the right fillip to fast track procedures and will become the growth engine of the country. Skilling of youth of India by way of multi-skilled training institute and MOOCS will go a long way in tying the India growth story with the demographic advantage of India. Like always, we will continue supporting the government in its endeavour to fast track growth.”

Govind Bansal, Co- Founder - Aqua Mobiles said, “Apart from 30 - 35 percent relaxation in the corporate tax and a reduction in the import of IT and Hardware products, there is nothing to boost the mobile phone industry of India. We were expecting some good reforms in the structural changes, easy registrations and approvals, etc. The budget is not in the line of ‘Start-up India, Stand up India. It is good for the Agriculture sector, but nothing has been offered to the manufacturing and trading businesses”.

Tarun Wig, Co- Founder, Innefu Labs shared his reaction and said, “Up to 35 percent of corporate tax relaxation and 100 percent hike in the exemption limit for the MSMEs are good incentives by the FM, but it is not in the line of promises made by Mr. Jaitley on January 16, at the launch of Start-up Indian Campaign. Rather, the most admirable decision is the incorporation of integrated data analysis system in the financial sector, that will really expedite the banking and financing activities. In addition, decreasing custom and excise duty on IT and hardware will definitely boost the industry”.

Rahul Jalan, Director, Indiaonline.in said, “As finance minister describes Indian Economy a bright spot in a gloomy global landscape,  the proposed Digital Literacy Scheme for Rural India and allocation of Rs. 1,700 crore for 1500 multi skill development centers and increase in the exemption limit from 1 to 2 crore for the MSMEs are really the initiatives that will help motivate the small businesses even in the smallest towns and villages. The benefits of growth to wider shared”.

Shrikant Shitole, Managing Director, Symantec said, "Enhanced investment in the budget for infrastructure, agriculture, rural and social sectors would support India’s continued journey of inclusive and sustainable growth. Protected and secure technology infrastructure fostering engendering trust will be critical to success of projects like e-marketplace, digital vaults for certificates and e-procurement. Legislative backing for Aadhaar should have requisite privacy provisions. Overall, a prudent budget, indeed".