Union Budget 2015 - Reactions from IT sector

Union Budget of India was presented on 28 Feb, 2015 by Finance Minister Mr. Arun Jaitley. While opposition is criticising to the extent possible , Government is singing all praise for the same, economists have split opinion. Its true that people were expecting a budget to low down taxes, ease loan rates etc etc, but this time government choose not to take the popular path , instead it focused on reducing fiscal deficit, encouraging startups and self employment. As soon as budget was out a series of reaction was inevitable, below are few reactions from our IT sector on the same.

Mr. Nigel Eastwood

CEO, New Call Telecom

“The Government delivers on its promise of strengthening the infrastructure sector. We, at New Call Telecom, strongly believe that small and medium sized companies hold the key to growth and by giving start-ups a boost will only expedite their growth story. The reduction in corporate tax from 30% to 25% over next 4 years is a welcome one. The reduction on taxes on technical services from 25% to 10%  will also cut down costs for service providers like us who have focused plans for realizing the Digital India dream. Overall the budget looks realistic and a stepping stone to India’s growth story. I second the Finance Minister - India is about to take off."

Mr. Sanjeev Sarin

Founder & CEO, Ozone Networks 

“In my view, the budget reflects a lot of confidence that the new Government has shown since the time it took charge of the office. It also projects a highly positive and optimistic roadmap for companies and investors looking to do business in India, thereby giving a boost of confidence to FDI in India and clearly sending out a signal that its simpler and lucrative to do business in India. It’s a budget for the working class and professionals. It gives a big boost to the farming and manufacturing sector and also encourages employment opportunities by giving preference and building a strong foundation to domestic manufacturing in India.  A very encouraging step forward is the decision to induce investment by 70,000 crore in the infrastructure sector for FY 15-16. Health & Education has been a strong focus in the budget and the Government should be lauded for its decision to provide concession to senior citizen on medical expenses.”

Mr. Eddie Chandhok,

President – Global Delivery Organization, Infogain

“The Prime Minister’s vision of “Made in India”, has been fully supported in this balanced budget. The proposed 150 crore to create world class IT hubs will facilitate job creation in the software sector a competitive edge and much needed thrust to entrepreneurship and businesses in India.”