Post-Budget Reaction by Mr. Tito Vatapilly – CEO & Co–Founder, Node Technologies Pvt Ltd.

Node-Technologies-Tito-VatapillyWhile the budget 2015 definitely seems positive and a balanced one, it is not the big bang budget that many had expected. This budget seems to have overall focused on growth for all sections and sectors. The focus on segments like infrastructure, agriculture, poverty alleviation, rural upliftment are commendable. The pension fund, EPF and ESI measures are a step forward for a society like India. The exemption increases in individual taxes should continue the momentum on the positive mood in the economy.

As a tech start up the cut in corporate income tax, refinance for debts to start ups,  reduction on tax on royalty on technology products and the mention of a self employment fund with a focus on the technology sectors are definite positives.  I would have loved to see the service tax untouched and not increased to 14%.

The important thing about the budget is that it lives to the promise of reviving the overall economic activity. It will definitely change gears for growth in the coming year which India urgently needs leaving the slow growth phase behind us.

© News Service

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