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"The budget has unleashed gallant reforms and pursues fiscal prudence to revive economy. The market is expecting much more as the budget has been progressive. Private investment can grow in the sector with good rebate offerings for the investors. As per my view, the budget is a progressive budget and it has covered all the facets that were expected and will definitely lead to the growth of the sector - particularly the transfer pricing will facilitate the IT sector largely.
“Dividend Distribution Tax being in the hands of the investor would supplement surplus in the IT sector. The budget does not seem to have showcased direct advantage but it will endow indirect value to the sector due to other positive measures announced. IT hardware industry will also be benefited. International accounting standard is the need of the hour at the moment. It was contemplated to be rolled few years back but nevertheless its activation now will provide positive outcome to the sector,” said Charanjit Attra, Global Executive Director and Chief Financial Officer at 3i Infotech.
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