NASSCOM’s suggestions for Union Budget 2021-22
Blog: NASSCOM Official Blog
Based on extensive inputs from the industry, NASSCOM has submitted a detailed memorandum of suggestions for the Union Budget 2021-22 to Ministry of Finance. The novel coronavirus (COVID-19) pandemic has led to the disruption of several global value chains and the Indian Information Technology (IT), Business Process Management (BPM) industry is an integral part of many of these.
Even as the Government focusses on the wider economic recovery, there are certain sectors which are likely to lead this. With over 55% share of the global sourcing business and over 1,000 global delivery centres in about 80 countries, the IT-BPM industry is well placed to serve the global value chains. Given this, the Government should consider introducing measures which prioritise the IT-BPM industry’s ability to increase its global market share. The e-Commerce sector has played a key role in hastening the economic recovery and the Government should consider introducing measures to improve ease of doing business that will help boost this recovery. The Start-ups need special attention as every challenge is likely to be magnified for them and therefore, we have highlighted measures to support them and we request you to consider them favourably. Our Budget suggestions are encapsulated under the following broad categories:
Part I: Direct Taxes
- Export Competitiveness – Investments in Special Economic Zones (SEZs)
- Encouraging Start-ups
- Clarifications amidst COVID-19 pandemic
- Transfer Pricing issues
- Issues impacting e-Commerce industry
- Investment promotion
- Administrative matters – Dispute Resolution
- Other key recommendations
Part II: Customs
The document is attached for your reference. In case of any query, please write to tejasvi@nasscom.in and jayakumar@nasscom.in
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