Budget Reactions From Hyderabad Inc For 2015

Suman Reddy, Managing Director, Pegasystems India opines that: “It looks like a mixed budget from the IT Industry perspective. While there has been a significant reduction in the Corporate Tax from 30pct - 25pct and of tax on Royalty from 25pct to 10pct that will benefit the industry; on the other hand the budget did not provide any clarity on the transfer pricing issue which the industry was awaiting. Having said that, the budget has given the right direction to the economy going forward, the 150 Cr corpus on making India world class IT hub will bring in a positive sentiment. Focus on Infrastructure, Skill development and Manufacturing will enhance economic growth in the long term.

Public expenditure in terms of investment in Infrastructure has also increased. It is good to see the government taking initiatives for startups, particularly the setting aside of Rs 1000 crores to set up Self Employment and Talent Utilization SETU supporting incubation and startups. The special attention on incubators and technology led startups is welcome as these will help the industry move from a services led to products led industry.  The hike in expenditure on education by setting up premier institutions in states such as J&K, AP, Punjab, Bihar Karnataka etc and strengthening the primary, secondary and higher secondary education along with the increase in specific educational scholarships for students is will further support skill development in the country.”

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