overall focus of union budget 2007 on faster and more
inclusive growth with a spotlight on rural development
augurs well for the long term economic development of
the country. This is a progressive and balanced budget
from the economic perspective, said Jangoo Dalal, president
and country manager of Cisco India & SAARC.
minister Manmohan Singh said: "We need faster growth
because, at our level of incomes, there can be no doubt
that we must expand the production base of the economy
if we want to provide broad-based improvement in the
material conditions of living of our population, ..........But
growth alone is not enough if it does not produce a
flow of benefits that is sufficiently wide-spread. We,
therefore, need a growth process that is much more inclusive,
.......... and which also ensures access to essential
services such as health and education for all sections
of the community."
government is also committed to e-governance, having
increased the allocation both at the central and state
levels, with a new scheme for manpower development in
the software export industry. Computerisation programmes
for the public distribution system and the Food Corporation
of India will also enhance efficiency and benefit the
common man, Dalal said.
proposal to grant pass-through status to venture capital
funds for undertakings in IT, biotech and other emerging
sectors, and the service tax exemption for technology
business services provided by technology business incubators
and eligible incubatees will further encourage innovation
and IP creation in India.
increased allocation to both primary and secondary education
and innovative financing for infrastructure projects
are positives and are imperative to sustaining growth
in excess of nine per cent, Dalal said.