The Hindu Business Line : Give sops to workers’ remittances

The country’s burgeoning foreign exchange reserve derives its strength from the flow of workers’ remittances from abroad, which, according the World Bank’s data, was $27 billion in 2007. Net receipt from trade in goods continues to be negative. The Budget must focus on giving incentives and attractive concession to workers’ remittances. They may include higher rate of bank interest and rebate on income-tax.

K.V.A. Iyer, Vice-President,

Water Transport Workers Federation of India, Kochi

Reduce corporate tax rates

With India becoming among the powerful investment markets in the world today at the backdrop of recession in developed economies, this Budget will be significant and looked forward to by corporates across the globe.

A moderate tax structure and abolition of surcharge on corporate tax is definitely top of the wish list. Lower corporate taxes will continue to ensure we are an investor-friendly country and enable us to enhance the growth further, by attracting signi ficant global investments in the next few years.

Since the IT industry has been under the stress of rupee appreciation and the Finance Minister has promised relief to such sectors, I do expect this Budget to be an IT-friendly one.

Hopefully, the Ministry will also concede to the industry’s demands to extend the tax holiday available to software and IT-enabled services companies under the Software Technology Park Scheme, to beyond 2009.

Sunny Pokala, CEO & President,

Amtex Systems

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