Economic uncertainties in the previous year have explored India Inc. to financial & economic vulnerabilities. The year 2011 saw inflationary pressures and rupee devaluation that imposed IT spending around consumers and the corporate sector. The Union Budget 2012-13 gets with itself a belief of a better tomorrow.
Relieving from the earlier downturns, 2011 was a relatively more strong year for the Information Technology industry. For India Inc. to be able to increase and flourish, it is significant that the Budget, as a statement of intent, expresses the very long term proposal for the economic stability of the nation. To make sure remained development and growth, some reforms are majorly anticipated out of this year’s Union Budget.
Initially with the GST that is likely to get a mention in this year’s budget and would probably be materialized from April, withdrawal of MRP relied assessment for IT services is fully essentially as this will not only advantage manufacturers and IT channel partners but also make sure decreased prices of products for the consumer.
