Bangalore: Indian IT czar Azim Premji on Friday expressed hope that the executive (government) would act on infrastructure projects to kick-start the economy. (Agencies)
"We need executive action on infrastructure projects, which are the most important priority at the moment to kick-start the economy," Premji told reporters in Bangalore. On budget expectations, the Wipro chairman said though he was not looking forward for anything specific, he hoped initiatives being taken on large infrastructure projects would lead to their early execution.
"There is an urgent need to facilitate coal linkages to power stations so that about 2,200 MW of energy lying idle can be generated and switched on. If coal supplies re-start, they can ease the power shortage," Premji asserted. Lauding Finance Minister P Chidambaram for taking a lot of interim steps such as deferment of GAAR (General Anti-Avoidance Rules) and partial deregulation of diesel, Premji said more such steps were expected in the run-up to the budget February 28.
"We welcome the policy changes announced by the government, including the deferment of GAAR and clarifications on income tax, which are pro-industry and investors."Similarly, the comprehensive Rangachari committee report is very positive for the IT industry as it has cleared the air vis-a-vis lot of interpretations, which the tax authorities were making and unnecessarily blocking funds in terms of payments in advance and refunds taking a long time to come back or getting appropriated against mutual adjustments," Premji observed.
Wipro chief financial officer Suresh Senapaty said the IT industry was very pleased with the reform process, especially on taxation related to IT services."We are seeing a lot of good features in the reform process, talked about a lot but not seen in action in the past but seen now. Hopefully, many more things will come and we expect the budget to be much more growth-oriented," he added.
Bangalore: Indian IT czar Azim Premji on Friday expressed hope that the executive (government) would act on infrastructure projects to kick-start the economy.