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Tuesday, April 28, 1998

Help us purchase more, say professionals 

Aasheesh Sharma  
For many a professional, the Union Budget to be presented soon means a litmus test of the confidence reposed in the first swadeshi government. Here's taking a look at the budgetary aspirations, as projected by a few professionals.

Ampro Information Systems Managing Director Rajan Vasudevan, a qualified engineer from Stanford, stresses the need for better infrastructure services. ``As a member of the IT industry, we would certainly like better power and telecom. In a developing country like ours, we can do without expressways if connected through a good telecommunication network. But in more concrete terms, I am looking forward to some relief in duty on hardware imports which is in the range of 25-30 per cent at present. On an individual note, however, I wish that the standard deduction limit is raised so that there is more income in hand,'' he says. ``Instead of unleashing the rhetoric of swadeshi, which has lost relevance in the light of earlier commitments made to the WTO and IMF, the government shouldwork towards increasing the purchasing power of the common man in the long run, and providing fiscal benefits to the industry in the shorter milieu. Therefore, steps like reducing interest rates to encourage export-linked growth, providing better infrastructure in terms of power and roads and protecting the interests of domestic industry by imposition of adequate tariffs on imports of low-price textiles would go a long way in making the ideals of self-reliance worthwhile,'' avers M P Gazaria, secretary-general, Indian Cotton Mills Federation.

But any improvement in infrastructure or perks for the industry needs a sizeable infusion of funds and if the ground realities of the economy are any indication, it will be a tough task. The year 1997-98 ended with a fiscal deficit of Rs 86,345 crore, overshooting the target by Rs 20,891 crore.

Still, a majority of professionals are of the view that inward-looking policies would result in the slackening of economic growth and that the liberal policies of recent yearshave improved the overall standards in quality. Some of the luxury items have found way into the lifestyles of the professionals as necessities now -- computers, cars and laptops are not rare. The availability of state-of-the-art computers and electronic gadgets has also increased but not substantially.

Vibhas Dhingra, a software engineer, feels that there should be better synchronisation between the market mechanisms in India and the West. ``In the phenomenon of planned obsolescence, where software developers promise you an updated and better product every three months, we Indians get a raw deal. Therefore, India continues to be a market for these obsolete technologies. Intel, for instance, updates its chip every three months. If the forthcoming budget further boosts imports of the latest software to the country, the technology gap can be plugged.

Delhi University lecturers, in the throes of an agitation for better salaries and a looming salary cut, are anything but upbeat about the budget. ``Actually weare expecting nothing from the Union Budget. But the least the government could do is to give some token tax exemption on books which have virtually gone out of reach for the middle class consumer, '' says Ramesh Kapoor, who teaches English in one of the University colleges.

So wait on till the budget.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.



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