E. SUDHIR REDDY, CHAIRMAN, IVRCL

What I wish to see in budget 2010

For the past 10 years, the benefits given to construction industry have never percolated down to the industry. Stimulus provided to allied industries like steel and cement are believed to get passed on to infrastrucure industry, but that hasn't happened. If there is any stimulus or tax benefit given to infrastrucutre industry, I hope that it comes directly to the industry.

What I DO NOT wish to see in the budget

We are the only industry to pay TDS upfront for a job that may even run into losses. Even as we work on waferthin margins, we pay TDS for bills yet to be received. I only hope that we do not see anything worse than this.

A. NARSIMHA RAO, PRESIDENT, ITsAP-IT&ITeS ASSOCIATION OF AP(formerly HYSEA)

What I wish to see in budget 2010

The IT industry is on the verge of strong recovery with expected growth rates of 10-15 per cent next year and the budget can take the momentum forward with an extension of tax benefits to units under STPIs.

We need specific provisions for free movement of business by IT companies between SEZs and STPI units, as it is posing severe challenges and reducing the competitive advantage of companies.

We also hope that the Government announces a specific and time-bound plan to implement technology for governance and citizen services.

What I DO NOT wish to see in the budget

Specifically, we do not wish to see any increase in tax rates – neither personal nor corporate. We also do not want to see any law which involves higher compliance needs for the companies - we would like to see things get simpler.

TV SANDEEP REDDY, MANAGING DIRECTOR, GAYATRI PROJECTS

What I wish to see in budget 2010

I wish to see a secondary debt market for infrastructure sector which will help us raise long-term debts. Most infrastructure projects need long-term debts and the risk levels are also less. If I build a toll road, it would generate income on commissioning. So, I would like to see a bond market for infrastructure sector in this budget.

What I DO NOT wish to see in the budget

I would definitely not like to see new taxes.

SRINIVAS SINGH, MANAGING DIRECTOR, MC NALLY BHARAT ENGINEERING

What I wish to see in budget 2010

I hope that the excise duty paid for construction material for civil and structural construction work is made CENVATable to reduce project costs. For interstate movement of construction equipment and materials to other construction sites, Waybill is required to be procured for many states. This should be abolished, since the equipment and materials are for own use and not for sale.

What I DO NOT wish to see in budget

2010 VAT on general goods is currently at 12.5 per cent. I hope it is not increased further. I would in fact be happy if it is reduced to 4 per cent as it would help bring down the cost of a Project.

D SUCHET RAO, CEO, NEULAND LABORATORIES

What I wish to see in budget 2010

We hope to see incentives from the Government to spur drug research in the country. The pharma sector requires tax exemptions to boost research and development R&D. Considering the need and benefits of R&D, goods subject to central excise and used for R&D purposes should be exempted.

The weighted tax deduction benefit for R&D should be extended to 2012, to make new companies eligible for tax holiday.

Keeping in view high research expenses we hope to see the excise duty being brought down and levied on 55 per cent of product value rather than the current 65 per cent. We also hope that customs duty of 10 per cent is retained and the same level of CENVAT maintained.

What I DO NOT wish to see in budget 2010

We do not wish to see a withdrawal of the fiscal stimulus. We understand that there is a high fiscal deficit but the government should provide fiscal incentives and should not withdraw the stimulus packages in the Budget as the economic recovery is underway.

The government can return to its Fiscal Responsibility and Budget Management target after the economy has fully recovered.

ABHEEK BARUA, CHIEF ECONOMIST, HDFC BANK

What I wish to see in budget 2010

We expect the fiscal deficit to GDP ratio to be targeted at 5.5 per cent for the year 2010-11 and the roadmap for fiscal consolidation.

We expect the nominal GDP growth expectations for 2010-11 to be revised higher to 14 per cent from 12.4 per cent listed in medium-term strategy statement. We hope to see service tax unaltered at current levels of 10 per cent with more services included under tax net.

We see union excise duty increased by 2 per cent to 10 per cent and brought in line with service tax rate to help smoothen transition to GST.

What I DO NOT wish to see in budget 2010

It is unlikely that the Government takes up expenditure rationalisation measures such as freeing up of domestic fuel prices immediately. But we do not want to see the Government delaying it beyond March, 2010.

Likewise we would not like to see the implementation of Direct Taxes Code and Goods and Services Tax (GST) anytime before 2011-12.

MARUTI SHANKAR, MANAGING DIRECTOR, 7SEAS TECHNOLOGIES

What I wish to see in the budget 2010
Like other sectors, "Gaming and Animation" doesn't need so much Government support in terms of budget or policy, but it needs some sops in terms of tax cuts, incentives and basic infrastructure. A special Gaming and Animation Policy needs to be framed.

Production and post-production are the big costing factors for this industry. So companies are forced to spend a lot of money on production infrastructure. It involves real estate cost, hardware, networking, Bandwidth, power costs etc.

The Government has to create proper infrastructure with which the industry can grow faster. Creation and establishment of 'Gaming and Animation parks' in select cities including Hyderabad, will help the industry to realise its dreams. Our appeal to finance minister is to facilitate this in the current Budget.

A 10-year tax holiday is the need of the hour to the industry. This has to cover corporate tax, sales tax, customs duty.

According to NASSCOM estimates, this sector needs more trained people in coming years. As there are no proper courses presently we suggest to incorporate gaming- Animation courses at graduate and post-graduate level by universities.

Gaming console hardware and software are key elements in the growth of the industry. presently import duties are very high in these. There is a need to reduce import duties substantially.

What I don't wish to see in budget 2010

Sunset clause under Software Technology Parks of India should not be removed. And, I don't expect any new taxes on this industry as it is a niche segment and the sector is just now growing.