Pramanik says he is keen to see if there will be any policy guidance from the government about use of information technology for inclusive growth focused in areas of better citizen services delivery and governance.
“I am expecting some specific policy announcements in the Budget to improve local manufacturing eg. cheaper power, scalable infrastructure, one stop regulatory clearances and long term tax incentives. And free market competitive framework for local manufacturers. I strongly believe protectionist measures like preferred market access do not encourage manufacturing,” he added.
He also expects the government to offer incentives to build datacenters at scale to power these services in addition to government spending or incentive to private sector to strengthen the digital connectivity in the interior regions.
“I hope there is policy direction to reduce tax disputes by implementing advance pricing agreements, accelerating mutual agreement procedures and implementing the cost plus methodology of tax on captive development centres. And I am looking forward to some timelines to implement GST and abolish VAT,” says Pramanik.
He also expects to see some simplification in taxation rules and hopes that the government will take steps to promote a stable tax regime and remove retrospective tax implications.
