Sriram S, Co-Founder and Director at iValue InfoSolutions
“We will call it a balanced budget, which will drive growth with prudence and addressing needs of the poor. The major thrust on Capex growth of 25% should drive demand. The focus on infrastructure and rural areas are welcoming.
As the digitization was one of the core area for this post demonetization budget the promotion of BHIM app and plan for Aadhar based payment without mobile is an appreciable initiative. Also, limiting the cash transactions to 3L is a good step which could have been pegged at 1L. The 25% corporate tax cap for companies up to 50Cr revenue is a great step which will benefit more than 90% Indian firms. 50% personal tax reduction for 2L to 5L slab should help the emerging class.
We did not hear much on cyber security with a greater push on the digital transaction, but for the creation of CERT. We still think a lot more focus is required on this front.”
Shibu Paul, Regional Director (IN, GCC & SEA ) at Array Networks
“I am overall happy with the budget, the increased focus on cashless economy and move towards digitization is very much appreciable. I will call it a forward looking budget with the balanced Tax soaps, IT rebates, focus on rural areas and SME development. Also, the reduction in tax for companies with less than 50cr turnover which will now be placed at 25% is a big win for MSME sector and around 96% of the companies will be benefitted by this major announcement.”
Ravi Raj, Brand Head, Director Sales & Support at NetRack
“This is overall a positive budget, which constitutes the entire element required for a progressive economy. This budget is an extension of the initiatives like digital India and make in India. The focus on infrastructure is a big push for industries, also the supporting schemes to push digitization like installing of POS machines, BHIM app, Aadhar payments as well as initiatives on digital transactions will help grow Indian economy. Apart from this, the tax reduction for companies with less than 50cr turnovers is the biggest take away for SME sector from this budget. We are hopeful for early implementation of GST, which will facilitate smooth movement of goods across India.”
Anoop Pai Dhungat, CMD at Galaxy Office Automation
“Budget 2017 has traversed along expected lines on issues such as GST, demonetization and payments digitization, outlay for infrastructure sector and more. However, could have certainly been more impactful.
For starters, although there are allocations for agriculture, transportation and rural housing, but budget 2017 fails to assuage concerns and challenges facing manufacturing and industrial sectors, technology or even the burgeoning Indian IT sector. Creating employment opportunities on a broader scale continues to remains a core need that could change nature of our entire consumption story.
Only silver lining I can see is tax incentives for MSMEs, and liberalization of FDI policy, details of which are yet to emerge. Overall, I would term this a disappointing budget.”
Rajarshi Bhattacharyya, Country Head at SUSE
“We appreciate the budget announcements and schemes launched under the union budget 2017-18. Overall, it is a balanced and growth centric budget that will drive our country to the brighter side. We respect the decision of addressing basic needs of farmers and bringing employment/job opportunities for our youths, who are pillar of the future. Focus on the infrastructure and rural areas are welcoming decisions. It encourages Infrastructure growth and will provide the perfect launch pad towards India becoming more IT consuming country
The encouragement given to start ups and tax reduction to MSME is a positive step towards make in India initiative. This will ensure new age organisations to be more globally competitive. India’s GDP will be on the upsurge. The 25% corporate tax cap for companies up to 50Cr revenue is a great step for MSME sector, which will positively benefit more than 90% Indian firms. 50% personal tax reduction for 2L to 5L slab will certainly help the emerging class.
Giving assurance that the effects of demonetization will not spill over to the next fiscal rather will lead to higher GDP growth is what the public were expecting. The only point we feel was missed or I rather say requires major attention from the Government is Cyber security. We will look forward for some policies or schemes which can assure secured digital transactions.”
