Reaction to the Budget 2010 : Andrew Horne, Managing Director, Xerox India

“The Union Budget for 2010-2011 is a budget in the positive direction. The impressive growth of the manufacturing sector in the third quarter of current year has reinforced that the economy is reviving but we need to move ahead with caution. With the continued support from Government on stimulating the economic recovery, the industry will be able to strengthen itself further.

The Technology Advisory Group for Unique Projects (TAGUP) is a recommendable initiative of the Government and a step closer towards e-governance. In addition. For MNC’s, simplifying the FDI policy would help to improve the overall investment environment.

For the common man, the reduction of customs duty, central excise duty and special additional duty in certain goods and commodities critical to SME’s and SMBs’ will be beneficial for the Indian household. The tax slab for the personal income and investment will also give a boost to the average mid level income group.

Overall, the budget has a vision to globalise India.