Pre Budget Comments from Broadridge Financial Solutions India Pvt Ltd

Hi,

 

Please find pasted the pre budget expectations from Mr. V Laxmikanth, MD Broadridge Financial Solutions India Pvt Ltd. Also attached is his picture.

 

 

Mr. V Laxmikanth, MD, Broadridge Financial Solutions India Pvt Ltd says -

From a macro level, I would look at the Union Budget focusing on allocation of appropriate resources and initiation of policy changes wherever required that should make it possible for India to get back to its GDP growth of 8% to 9%. Containing the fiscal deficit should be another important priority for the government at this stage. This budget should also consider increasing spend on infrastructure – primarily power and transport. For export oriented industries, while stimulus packages have been provided for, keeping in mind the global meltdown appropriate benefits need to extend to enable the Indian exports become profitable. This will in turn generate domestic employment opportunities which were lost due to the sharp decline in exports in last 1 year. For the IT / ITES industry the STPI tax exemption status should be continued for a few more years.

 

This budget will really be very crucial for the “aam aadmi” especially the middle class who have been impacted by the galloping consumer prices, relief should be provided to them by lowering excise duty on essential items of mass consumption. For senior citizens who have been impacted by the low interest rates in recent years, there should be either higher IT relief or increase in interest on savings instruments.

 

 

V Laxmikanth’s Profile:

V. Laxmikanth, Managing Director of Broadridge Financial Solutions (India) Private Limited which is a fully owned subsidiary of Broadridge Financial Solutions, Inc. (“Broadridge”, NYSE: BR) (formerly ADP Brokerage Services Group) has over 24 years of experience in the software industry, working for both reputed multinationals - for their offshore development centers - and Indian companies. His expertise covers areas like software development and support, project management, offshore project co-ordination, customer support, technical marketing and client interfacing.

Laxmikanth was Assistant General Manager when he left to join D. E. Shaw India in 1996. Laxmikanth was one of the pioneers of setting-up D. E. Shaw India Software Private Ltd. a subsidiary of D. E. Shaw & Co. USA (an investment bank) in 1996, and was a Director heading the FarSight, Market Maker and Portfolio groups.

 

In 1999, he joined as Director of Wilco International Systems (now known as ADP Private Limited - a fully owned subsidiary of Automatic Data Processing, Inc USA) when it decided to set-up its development centre in India.

 

Broadridge Financial Solutions (India) Private Limited, with 700+ associates is a fully owned subsidiary of Broadridge Financial Solutions, Inc. (“Broadridge”, NYSE: BR) formerly ADP Brokerage Services Group. Broadridge is an industry leader with nearly $2 billion in revenue. We specialize in three areas of services to the financial services industry: investor communications, securities processing, and clearing and outsourcing. Broadridge distributes over 1 billion investor communications each year, and components of its securities processing solutions are used by 7 of the top 10 U.S. broker-dealers. Additionally, its fixed income business processes trades with an aggregate settlement value of over $2 trillion each day.

 

 

 

Regards

Meeta

Perfect Relations

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