Pre-Budget expectations by Mr. S Sriram, CEO at iValue InfoSolutions:
Government should only focus on Governance and move out of running companies and business in a structured and phased way.
Government to focus on creating basic infrastructure for people which include education, health, affordable house, water, electricity and roads. Disinvestment can fund these initiatives along with right FDI policy on infrastructure front.
Relook at effectiveness of various subsidies at the recipient level. The quantum of subsidies can help dramatically reduce quantum of these budgets for investing in building basic infrastructure needs.
Effectively address supply side constraints to tame inflation in a sustainable way.
Time to look at growth centric policies to revive the economy.
Expedite GST rollout to provide tax clarity and simplicity to Indian business.
Abolish retrospective tax amendments through law to protect long term investments especially in infrastructure.
Simplify tax laws and avoid overlaps – like between VAT and Service tax.
Lower tax rates to enhance compliance and coverage for business.
Provide tax holiday to startups for 5 years. Promotion of startups key to meet growing employment needs of young India which has most employable population in the world.
Lower tax rate, increase exemption and investment limits for salaried class. Effects of high inflation rate over many years have hurt savings and investment capabilities of Indian middle class. Find new means to bring professionals under TDS coverage to reduce burden on the current small base.
Protect & rejuvenate natural resources like lake, river, trees & forest, trees, etc. Promote RWH, non conventional energy source usage for sustainable living.