Dr Alok Bharadwaj, Senior Vice President, Canon India
“There are a lot of expectations pinned to the 2012 Union Budget, due to the global supply chain disruptions, rupee devaluation, high interest & slackening of policy reforms that 2011 witnessed. For India Inc. to be able to rise and flourish, it is important that the Budget, as a statement of intent, expresses the long term proposal for the economic stability besides radical reforms in taxation space, which the industry today yearns for. Aspects like, implementation schedule for GST for attracting FDI, Duty corrections like in lenses of Cameras, Removal of inverted duty structure, Withdrawal of MRP based assessment for IT Products, elimination of ambiguity on transfer pricing rules and implementation focus on manufacturing centric policies, further adoption and expansion of IT products along with help increase manufacturing of IT products along with sustained focus on education, healthcare should be a part of the immediate focus. With forward looking policy announcements & structural corrections, the 2012 budget could be a great opportunity window for finance minister to inject both sentiments & substance to growth renewal.”
