Budget wishlist of Four Soft- CEO

Greeting,

 

Please find enclosed budget expectations of Mr. Rajshekhar Roy, CEO, Four Soft Ltd. Please find attached his profile and picture.

 

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Over the years the Union budget has become much more than an instrument of recording the nation’s revenues and expenses. It is an eagerly awaited event and has become a mechanism of setting governmental policy directions. The expectations this year are high as a new government is in place and everyone is interested in seeing how they respond to the current economic situation in which the country and the world finds itself.

 

From an overall industry perspective, there are a few key aspects which need to be looked into. Availability of credit is vital to stimulate growth and this has been an issue even though the banks have been flush with funds. Banks must be encouraged to provide credit at reasonable rates for both capital expenditure and consumer demand to get a boost. This will also have a positive effect on entrepreneurial energy that can be unleashed to create significant employment opportunities. Secondly the government must allocate funds for spending on infrastructure and create an environment where more people want to work and invest in India. The India story today is a compelling one in many respects but it always gets diminished by lack of proper infrastructure and facilities. We need good airports, good road network and superior communications to forge ahead.

 

From the perspective of the IT and ITES industry of which I am a part the wish list is a fairly large one. To start with there is a need to invest in higher education so that the industry has access to people who are directly employable. Secondly the government needs to boost domestic IT spending – this will help companies in this sector who are currently struggling with demand slowdown in US and Europe, apart from the associated productivity gains that automation generally brings in. Thirdly there is a need to extend the tax exempted status of the industry. Under normal circumstances the time given by the government would have been adequate but in the current economic situation an extension of at least 2-3 years will be a great impetus for the struggling industry. Fourthly, in a country where there is no social security in place the government needs to look at some way to support the people who have suffered job losses. This can be in terms of support through health insurance and easy loans that encourage people to get started on their own.

 

We are passing through difficult times but have ample capabilities to come through this. The government needs to be a facilitator and a sponsor in this process and the budget will be an apt place to get started.

 

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Thanks and Regards,

Bhawna Sharma Ningthoujam,

 

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