Indian Budget 2012 Nothing for ITeS Sector

The Union Budget 2012-13 has nothing on the table to bring cheer to the Information Technology and ITES sectors which pleaded for relief from Minimum Alternate Tax imposed on SEZ units and boost to the SME sector.

We all knew that it was all coming to an end. The industry has been for sometime requesting that this be replaced by something, especially for start-up and small enterprises. – Infosys

Mr. J. A. Choudhary, past president of ITsAP and Executive Chairman, Talent Sprint, said with no measures to incentivise SMEs, it will be difficult to create future Infosys. The imperative to take the IT to tier II and III cities too was ignored. The sector hit by attrition, shrinking profit margins, European crisis and move to tax companies in US outsourcing to India, looked for relief in budget in vain.

In my opinion Government is noy going to support small and medium scale companies in small town and cities – Mohnesh Kohli Megrisoft

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