We expect the new government to look into the issue of penalties imposed on technology firms involved in UID related projects. Timely redressal will save lot of avoidable costs and keep operations moving.
A couple of high level committees have recommended a payoff of 3.14% for Electronic Benefit Transfer (EBT) disbursements of NREGA wages and Social Security Pensions. The current compensation is not adequate for banks and their partners to meet costs of delivering to the last mile. This is very crucial in ensuring the viability of the business correspondent (BC) model in delivering government benefits and financial products in remote rural areas. For the greater benefit of savings from leakages and frauds, Government should make electronic payments (EBT) through banks mandatory for all welfare payments. This would also play a huge role in ensuring financial inclusion.
--- Rishi Gupta, COO & ED - FINO PayTech
Change policy on waste utilisation by cement and other industries
Alok Sanghi, Director, Sanghi Industries
The cement industry is one of the most taxed industries in India. The excise duty on steel is just 4% whereas for cement it is 12%. We believe the government really needs to focus on how they can reduce the cost of cement, either by reducing the royalties, or reducing excise duty.
Government also needs to change policy on waste utilisation by cement and other industries. Currently, municipal corporations charge for waste utilized by companies. However, in developed countries, government encourages waste utilisation through payment to companies against successful waste recycling. Only if there is any incentive to recycle waste, it is viable and feasible for cement companies to replace coal for energy production.
Need steps towards GST, revival of the investment cycle and stabilising the rupee
Arjun Handa, MD & CEO, Claris Lifesciences
There is a lot of expectation from the Modi government, but it would be prudent not to expect overnight positives, the budget should be a strong budget with minimal populist measures, drawing the road map; for the next 5-10 years; of reduction in inflation and increase in Investments along with FDI. The key expectations in the near term are implementation of GST, revival of the investment cycle and stabilising the rupee.
Abolish excise and custom duties on food processing
Mr. Rajesh R. Gandhi, MD- Vadilal Industries Ltd
Food processing Industry indirectly supports development of Agriculture growth & farmers. Food processing industry acts as buffer while there is short & surplus in Agro production. And hence, encourage food processing, which is very low in India as compared to rest of the world.
Please click here for the Complete Coverage of Budget 2014 -15
Bullet trains? First change the stinky coaches and stations
17 BEST buildings of 2014
Bullet trains? First change the stinky coaches and stations
Do a reality check on free trade pacts, says economic survey
Rupee ends largely steady a day ahead of Budget