Aparna Iyer, the Chief Financial Officer of Wipro Limited, lauded the Union Budget for meeting fiscal deficit targets despite global volatility. She highlighted the tax rate rationalization for individuals and GST carried out earlier. The budget emphasizes boosting the Indian IT services sector, with a focus on Artificial Intelligence for economic growth.
The government’s vision to position India as an AI-powered economic superpower was underscored by identifying AI as crucial for growth. Iyer welcomed the proposal for long-term tax exemption for data center services to establish India as a global hub. The budget’s measures like combining IT and R&D services, increasing safe harbor limits, and providing tax certainty were praised for reducing compliance costs.
Iyer also appreciated initiatives to enhance ease of doing business, supporting enterprises and strengthening economic growth. Dr. Shravan from BPL Medical Technologies praised the budget for investing in healthcare infrastructure, manufacturing, and technology-led innovation. The focus on diagnostics, critical care, and medical technologies aims to build a resilient healthcare system.
Support for manufacturing, skill development, and access in underserved regions is seen as crucial for advancing the Make in India initiative. Continued efforts in expanding oncology infrastructure are awaited to address the rising cancer burden in India.
