The Union Budget 2008 would be presented before the Parliament on February 29, 2008.

N R Ganti, Chairman and MD, SQL Star hopes to see softening of interest rates, extension of tax breaks for the software industry and rationalizing FBT for the software sector.

Ganti thinks that in the short run, IT and ITES industry is expected to go through some rough patches due to the US economy slow down, rupee firming up, escalating costs etc. “The industry will adjust to the changes scenario. However, the outlook is bright in the long run, given the relevance of IT investments in virtually every sector whether it is manufacturing or service oriented,” he said.