Budget 2015: The Tech Industry Reacts

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Finance Minister Arun Jaitley on Saturday announced the Union Budget for 2015, and the new budget comes with a number of benefits for technology companies. The public might not be so happy to see the rate for service tax inch upwards to reach 14 percent -your phone bills and other bills could rise slightly, unless the service providers decide to try and absorb the costs.

He was not alone in thinking this either. “Greyhound Research believes that the Union Budget 2015-16 is a mix bag of hits and misses,” says Sanchit Vir Gogia, Chief Analyst and CEO, Greyhound Research. “The government’s decision to introduce GST by April, 2016 will simplify the indirect tax regime and make it more transparent.

However, the decision to review excise duty and service tax separately raises lack of clarity on the execution part of the process and how it will be taken forward. We believe that in this budget the government has not given clarity on developments about initiatives that were proposed in the last budget like E-Kranti, Smart Cities and the 10,000 crore fund for SMEs. They have also missed about long pending issues like Cloud Protection laws, Cyber Security and Double Taxation on software.”

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