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February 27, 1999
'Giving full weightage to the IT sector will help bring back the brains back to India'
A S Kasliwal
It is a positive Budget. It is going to do good to the common citizen and will attract my brethren overseas to see India as a country of gold.
As far as industry is concerned, industry has withstood the competition of liberalisation and is maturing to an extent that it shall do good. What is required in industry is productivity, discipline and efficiency. This can be settled by suitably changing the labour laws by which they promote employment generation and not demotion.Thus, part of the cost can be maintained and reduced. The other area is interest rates which it appears are now competitive and matching world rates.
In tax proposals, the simplification of excise and hardly any disturbance in indirect taxation in the long run will help.
Incentives to the housing sector, providing funds to the road sector, recognising entertainment as a sport, giving full weightage to the IT sector, to R&D will help in bringing back the brains of India back to India.
A S Kasliwal is chairman, S Kumar Enterprises Ltd
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