Budget 2011: Single tax code for software, commodities will be helpful, says Kamesh Ramamoorthy of Ramco Systems

Mr Kamesh Ramamoorthy, Chief Operating Officer of Ramco Systems shares his expectations or wish list for Budget 2011:

Single tax code that will ensure common tax structure for software and commodities will help in substantial savings. This will simplify the tax structure and make it easy to interpret for all.

SOPs for indigenous product companies that are investing in R&D in India and creating assets to service the global market. This could be in the form of.

▪ Listing them as preferred vendors for Government and public sector projects subject to them matching the required technical and product expertise criteria.

▪ Investment allowance for certified indigenous product companies which will boost local companies to do R&D.

Strong focus on promoting Small and Medium Enterprises as they are the torch bearers of the future economy. Initiatives such as.

▪ Bringing back the special subsidies given to SMEs for investments in IT will help in faster adoption of IT among the SMEs.

▪ Easy loans, and better interest rates.

Setting up of finishing schools in collaboration with the Industry to ensure the talent is industry ready.