Pre-budget expectation for Education & Training sector by Mr. Rahul K Patwardhan, CEO, NIIT Limited
New Delhi, January 18, 2017: Although there has been lot of focus on skills and training, we expect some tax relief for the education and training sector in this budget. We expect that the government will introduce measures to ensure a level playing field for the highly regulated Indian online education and training companies, against the global players who are entering the Indian market aggressively in an unregulated manner as far as Indian taxation regime is concerned.
The Government, has already announced phased reduction of Corporate Tax rates from 30% to 25%, and we expect some announcement in the ensuing Union budget to this effect. Tax regime is one of the significant considerations for Multinational Enterprises to set up their business in a particular tax jurisdiction. This would be a tremendous step from the government in respect to ease of doing business, encouraging more multinationals to expand their business in the country.
GST is another much-awaited Indirect tax reform, which will boost the economy. As, GST has been deferred to July 1, 2017, we hope that the government should accordingly extend the date of phase wise GST provisional registration as organizations are facing issues in getting registered on GST portal. There should be firm timeline and industry should be given sufficient time for implementation since lot of modifications is required in the IT Systems. Further, specifically for Service sector there would be extra burden on compliances for multistate registrations, therefore ease of compliance should be considered i.e. centralised registration or unified registration.
NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements. The company, which was set up in 1981 to help the nascent IT industry overcome its human resource challenges, today ranks among the world's leading training companies owing to its vast and comprehensive array of talent development programs. With a footprint across 40 nations, NIIT offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has three main lines of business across the globe - Corporate Learning Group, Skills and Careers Group, and School Learning Group.
NIIT's Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The Skills and Careers Group (SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance & Insurance, Soft Skills, Business Process Excellence, Retail Sales Enablement, Management Education, Multi-Sectoral Vocational Skills, Digital Media Marketing, and new-age IT. As NIIT's wholly owned subsidiary for its K-12 school learning initiative - MindChampion Learning Systems Limited (MLSL), provides futuristic NIIT nGuru range of learning solutions for schools comprising, interactive Classrooms with digital content, technology-driven Math Lab, IT Wizard programs and Quick School - an Education Resource Planning software.
The Training.com learning platform, is an NIIT initiative for advanced career programs, which are delivered live by industry experts in an immersive and interactive online mode, combining instructor-led classrooms with the convenience of accessing the training sessions from anywhere.
As the Most Trusted Training Brand in India for 4th year in a row (Brand Trust Report, 2016), NIIT's learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies for the past nine consecutive years by Training Industry, Inc. USA. Further, leading Indian ICT journal Dataquest has conferred upon NIIT the 'Top Training Company' award successively for the past 20 years, since the inception of this category. NIIT has also been featured as the 'Most Respected Education Company'- 2016 by leading financial magazine, Business World. NIIT.tv – a disruptive innovation by NIIT, won the prestigious award for 'Educational Technology, at the Indo-American Education Summit 2016.
By Mr. Rahul K Patwardhan, CEO, NIIT Limited
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