Water sector development should get top priority among urban bodies: VIL CMD Arun Lakhani

Arun Lakhani, CMD, Vishvaraj Infrastructure Ltd

Arun Lakhani, CMD of leading water management player Vishvaraj Industries, complimented Prime Minister Narender Modi led government for taking host of initiatives for conservation, harvesting, recycling and treatment of scarce water and said sustainable efforts for water sector is a must in the face of rapid industrialisation and urbanisation. “Urban local bodies are however constrained by the fund shortage and are not taking the water sector projects to the level desired,” he said participating in a seminar “Challenges of Water Supply and Sanitation for Urban and Rural Areas” on the occasion of India Water Week, 2016, inaugurated by Union Water Resources Minister Uma Bharti.

Arun Lakhani, Said that India requires a staggering over US$ 45 Billion investment for improvement in the water sector and industry should become a partner to the government for this national cause. “Carriage and treatment of waste water is being overlooked by the local bodies and doesn’t get the due importance. The need for sustainable development of water sector cannot be over looked.,

” he said and voiced a word of caution that water cannot and should not be merely treated as an economic commodity as it is the basic right of human being and is deeply embodied in the social fabric of the community.” The seminar on the second day of the Water Week was attended by large segment of government officials, water management players and industry leaders.

A session on case study presentation was organized by FICCI where eminent speaker from the water industry presented their views and solutions pertaining to water sector. The speakers present at the case study presentation were Arun Lakhani, CMD Vishvaraj Infrastructure Ltd, Pradeep Suri Chairman, IL&FS Water Ltd and Chairman FICCI’s National Executive Committee on Urban Infrastructure and Smart Cities, Dinesh Chand, Additional Advisor for Ministry of Drinking Water and Sanitation, M.S. Agarwal, Retd Chairman, GRMB, Siddhartha Prakash, Sr Operations officer, International Finance Corporation, IFC.

Best practices from companies across industries were shared along with strategic keynote presentations by industry stalwarts who play an integral role in the field of water sustainability in India. The importance of risk management and mitigation was stressed upon at the conference; this is crucial for the longevity of any sectors sustainability and collaboration is the way forward to address radical and frequent changes in the externalities of ecosystem.

The event was inaugurated by Uma Bharti Union Minister for Water Resources, River Development and Ganga Rejuvenation. Speaking on the occasion the Minister said that Water Resources are the prime input to the growth and prosperity of a nation and Films can prove to be an effective tool of communication to spread the message of water conservation. Vishvaraj industries is a pioneer player in treating waste water for household consumption and created a showcased project in Nagpur to supply water to more than half of winter capital of Maharashtra nearly 15 years ago and is now providing consultancy to various Urban Local Bodies and policy maker in efficient use of water technology.

This News is Originally Posted on INDIAINFOLINE

VIL CMD Arun Lakhani

This budget restores balance in rural Bharat and India Inc: Arun Lakhani

Arun Lakhani, CMD, Vishvaraj Infrastructure Ltd

The Union budget 2016-17 is a step forward for the welfare of the people and growth in the country. For the infrastructure development, the government has announced fund allocation of at Rs 2.31 lakh crore that would aim to enhance the infrastructure base of the country. Guideline for renegotiation of PPP contracts is a long standing demand from international investors and will make the investment environment much more risk neutral.

It is a big step towards overseas funding comfort for PPP in infrastructure. A 228-percent higher grants to gram panchayats & urban local bodies in accordance with FFC recommendations will augment development process significantly in terms of providing basic facilities like clean healthy water, sanitation, and other basic amenities leading to smart towns of future. This budget restores balance in rural Bharat and India Inc. The approach of the Finance Minister is one of quantum jump rather than tinkering, which would accelerate the development process and put the Indian economy on a sustainable growth trajectory, while further expediting the ‘Make in India’ programme and ‘Swaach Bharat Mission’.

This New is Originally Posted on Business-Standard

Vishvaraj Infrastructure adjudged best PPP operator in Water and Waste Water Sector

Nagpur: While whole of Maharashtra is facing acute shortage of water this summer, Marathwada being worst affected, Nagpur is in much better situation.

Gone are the days when citizens used to try all their sources to get tanker water in their apartments in large number of localities. The change was possible by the organized efforts of Orange City Water (OCW) which is responsible for water supply in the city. The efforts of Vishvaraj which is one of the promoting companies of OCW were recognized at the highest level.

Vishvaraj has been named the most successful PPP operator in water and waste water sector at the Water Digest Water Awards (WDWA) 2015–16. These awards are recognized by UNESCO and supported by Times Network. Arun Lakhani, Chairman and Managing Director of Vishvaraj Infrastructure Ltd, received the award in a ceremony in New Delhi from Chaudhary Birender Singh, Minister of Rural Development, Panchayati Raj & Drinking Water and Sanitation, Government of India.

Also present on the occasion were the jury panel members Dr. Pawan Kumar Labhasetwar – Sr.Principal Scientist, CSIR – NEERI, Anshuman – TERI (Associate Director), R.K. Gupta – CMD – WABCOS, Dr KM Chacko – Director Sriram Institute, Satish Mallick, Consultant – Water and Waste Water, Dr. Ram Bhoojh – UNESCO, Dr. Jagdish Kumar Bassin – Retd Chief Scientist & Head, CSIR – NEERI.

Speaking on the occasion Lakhani said, “We at Vishvaraj Infrastructure are honored to receive this prestigious recognition. We dedicate this award to the people of Nagpur, Officials of Nagpur Municipal Corporation and also the politicians from the city cutting across the party lines, who cooperated with us in bringing the change in the water supply system in Nagpur. We have tried our best to communicate with the people through various mediums and we will continue to do so. We have still not achieved our goal but are on the right path of reaching there. People will appreciate that the project of this size and nature is not attempted anywhere in India so far and we are privileged to do it first time in Nagpur. We have wonderful people in the city who have supported us so far and we need your continued support for few more years and we assure you the best of the class water supply system in the country. We wish to receive all of your ideas and suggestions which will guide us to perform better.”

It is worth mentioning here that the “Nagpur 24×7 water supply project through PPP mode” was also selected as “National Best Practice of India” and was appreciated by the Prime Minister in front of 500 mayors and commissioners during inauguration of Smart City and AMRUT scheme on 25th June 2015.

“Best Water and Waste Water PPP operator award” is another feather in the cap for the Nagpur based company and it is bringing Nagpur on the National and International map by showcasing its path breaking initiatives. Representatives of the many multi-national companies and city planners across India are regular visitors of Nagpur water projects and appreciate the efforts of the NMC and the company.

This News is Originally Posted on NAGPUR TODAY

Budget 2016: 'Hard working' budget for startups, could have been much better

The Union Budget for 2016-17 has been a mixed bag for the Startup Community. While a lot of announcements have been made regarding startups in India, the community largely feels a lot more could have been done. Incremental steps have been taken, but several contentious issues have not been tackled by the Budget.

"This is a hard working budget. We welcome the move to start rationalizing capital gains for investments in private companies, which will help create a level playing field relative to listed companies. However, the silence on removal of angel tax has been deafening," says veteran entrepreneur and Indifi Technologies, Co-Founder, Alok Mittal.

Think-tank, iSpirit, said that it was disappointed with no attention being given to easing taxation norms of software companies where there is significant friction, the confusion on "goods" verses "service" tax on online downloads, TDS on sale of Software products and competition from foreign selling B2C products without any tax in India. It added that there is a lot more that could be done to incentivize innovation and specifically ease the TDS conundrum which start-up and product companies  find themselves adversely caught in.

In a tweet chat Chairman & Co-Founder of Frictionless Ventures and Chair- Product Council, Nasscom, Ravi Gururaj says, "Tax holiday good, but MAT not helpful. Capital gains holding period of 2 year helps but 1 year would be better." Replying to a tweet that the Government seemed lackadaisical when it comes to emerging tech, Gururaj added that it was not fair to call out as lackadaisical. "Government's heart is right, but policy is a slog," he said. Below are the reactions from the Startup community in the country:

Mohandas Pai, Advisor, iSPIRT, Chairman, Manipal Global Education Services and Aarin Capital :- The Government continues to incentivize the start-up ecosystem as we have seen in the recent budget pronouncement. I am glad that the Government clearly recognizes that start-ups can be powerful problem solvers for the myriad issues facing the country and in turn generate employment as well. The Government's decision to allow for 100% deduction of profits for 3 out of 5 years between April 2016 and March 2019 is certainly a welcome step that will boost start-ups.

Padmaja Ruparel, President, Indian Angel Network:- Capital gains Tax exemption in regulated / notified fund of funds & lowering the period from 3 years to 2 years for definition of Long term Capital Gains in unlisted companies are both welcome. We had hoped that treating investments by AIFs and angel groups in unlisted companies would be aligned with the public market equity tax regime. We also welcome the SETU fund of Rs. 1000 crore to boost innovation and incubation and the one day registration process for start-ups will all help the eco system to grow.

Vishnu Dusad, Co-Founder & Governing Council member of iSPIRT & MD, Nucleus Software:-While there are no major sops announced for the software product industry, the Government must understand that incentives to this segment of the industry will result in an exponential leap in exports and place India in an unshakable position on the world software product stage. That said, the decision to tax the Royalty Income from Patents developed and filed in India at only 10% is a good move by the Government and will certainly encourage companies to develop and file more IPR in the country

Arun Lakhani, CMD - Vishvaraj Infrastructure Ltd :- $The union budget 2016-17 is a step forward for the welfare of the people and growth in the country. For the infrastructure development the government has announced fund allocation of at Rs. 2.31 lakh crore that would aim to enhance the infrastructure base of the country.

Guideline for renegotiation of PPP contracts is a long standing demand from international investors and will make the investment environment much more risk neutral. It is a a big step towards overseas funding comfort for PPP in infrastructure. The 228% higher grants to gram Panchayats & urban local bodies in accordance with FFC recommendations will augment development process significantly in terms of providing basic facilities like clean healthy water, sanitation, and other basic amenities leading to smart towns of future.

This budget restores balance in Rural Bharat and India Inc. The approach of the Finance Minister is one of quantum jump rather than tinkering, which would accelerate the development process and put the Indian economy on a sustainable growth trajectory, while further expediting the "Make in India" programme and 'Swaach Bharat Mission'.

Saurabh Srivastava, Co-Founder, Indian Angel Network:- The 3-year tax exemption for startups is indeed a positive move that will reduce compliance burden and cash outflows, allowing ventures to invest in product development and scaling-up the businesses. Exemption from capital gains tax is an expected move from this year's budget and will encourage more high risk investments into the ecosystem. However, would have been great if capital gains tax regime for unlisted companies was aligned with that for listed companies at least for investments made by SEBI registered AIFs. This would end the discrimination against domestic venture capital funds ( AIFs) as foreign funds anyway pay no capital gains tax by investing from Mauritius and other treaty friendly countries. By enabling one-day registrations for start-ups , the Government has focused on bringing in ease of business for the ventures. Many countries in the world do this already and, with the user of technology, I am sure this will get implemented expeditiously."

Sharad Sharma Co-Founder & Governing Council member of Ispirt:- Start-ups in the country will certainly benefit from the budget announcement of amending the Companies Act to announce easier and swifter registration of companies. Another positive announcement from the budget speech by Arun Jaitley has been the focus on Aadhar for subsidy delivery. The Aadhar powered India stack from authentication to execution, coupled with the open API policy in India, can certainly transform the way in which digitally focused companies can reach the masses quicker and more effectively.

Vijay Shekhar Sharma - Founder and CEO, Paytm:- I am really happy for Aadhar and IndiaStack. Finally, the government has provided legislative backing that will unleash the full potential of such an incredible platform. With the focus on digital payments and incentives to startups, the Finance Minister has boosted our Prime Minister's Digital India and Startup India plans. Overall, the budget creates a strong foundation for sustainable growth in rural & urban India. Steps to further improve Ease Of Doing Business will drive entrepreneurship which is essential for job creation.

Gaurav Bhatnagar, Managing Director, Travel Boutique Online:- A lot more could have been done in the budget for startups. The three year tax holiday is hardly going to be of help given most startups don't make money in initial years. Reducing the holing period for capital gains on shares of private companies is a welcome move. However, it might not be sufficient to prevent the rampant externalization of funded startups. The tax rate on long term gains on VC/angel investments needs to be rationalized since these investments carry far higher risks compared to investing in listed equities where LTCG is zero (in lieu of STT payments). Finally, I haven't yet reviewed how a "startup" would be defined to qualify for tax incentives etc but ideally raising any amount of capital shouldn't be part of the qualifying criteria. It puts bulk of the entrepreneurs at a great disadvantage. Yashish Dahiya, Co-Founder & Director, PolicyBazaar.com

Startups do not make profits in the first 3 years, but reducing the holding period for Capital Gains 2 years from 3 will be helpful. However, I thing the reduction in corporate tax for Small companies at 29% + cess would be irrelevant for start-ups. Lastly, I think there will be no major change in the startup ecosystem. The encouragement is good, but practically nothing has changed.

Shekhar Dasgupta, Founder, GreenField Software Pvt Ltd:- The announcements are at best just good intentions. The devil is in the implementation. Let me give an example why India does not have a good support system for startups from the Government.

PSU and Government tenders repeatedly specify, for certain categories, products by name from foreign vendors, usually large MNCs. Although India-made products meet the specifications mentioned in the tender, they cannot be quoted as they were excluded in the named category list. All Indian vendors, including SMEs are thereby excluded from even participation, forget about getting the business.

In such a scenario, reaching revenue thresholds for taxation purpose for a technology "product" company is really a moot point - if is relying on domestic market. All announcements for the SMEs appear like putting lipstick on a pig.

Abhinav Mathur, Director Talentiser Labs – Jobick:- The starting of a company in 1 day is great. However, closure of a company within a reasonable time is equally important. For the part on income tax, it should be exempt for a period of at least 5 years or on the recommendation of an auditor basis the business model of the company and depending on the losses being incurred. The holding period for capital gains should be reduced further, especially if a 50% of the Capital Gains are being invested back into startups. However, the silence on angel tax is a major concern area and should be explained clearly. The FM could have done much more.

Chiranjiv Patel, Incoming Regional Director, Entrepreneurs Organization, South Asia:- This budget is a populist one and overall clearly defined for the lower class, middle class, and higher class. Various initiatives in the budget are a significant boost to all startups business entrepreneurs and new manufacturing companies. The budget also taxes the riches and high-income people (nothing major for them) heavily, with passing benefits to lower class and middle class will be an attempt to balance the economy. Service tax exemption for housing will be a significant boost for home buyers and for the overall growth of the sector. This budget seems to be making an effort to create an agro economy as well. Considering all the initiatives by the finance minister, the Union Budget 2016 aims at jobs creation, rural development, and structural transformation which will lead to overall growth of the economy.

Alok Saraf, Partner - Private & Entrepreneurial Group, PwC India:- This budget is a Budget for the M&SME sector with various policy measures and tax incentives focusing on their needs. Policy measures on encouraging entrepreneurship, enhanced spending on rural development and infrastructure including on roads and railway, focus on developing one crore skilled workforce could be a big boost to the sector. On the tax side, tax holiday to start-ups, lower tax rate of 25% on new manufacturing facilities and increasing turnover threshold to Rs 2 crore for presumptive tax rate of 8% are all welcome moves for the sector. A thumps up from the sector.

Kiran Murthi, CEO, AskmeBazaar :- The Finance Minister has presented a business friendly budget which is encouraging for young and fast growing India. Taking the "Start-up India" action plan forward, the budget allocated Rs. 500 crore for SC/ST & Women entrepreneurs. The announcements made during the budget also include a 100 % tax exemption for 3 years for start-ups, which is a welcome step. The Minister also proposed an amendment of Companies Act to allow new start-ups to register in one day. These steps will help to creat a favorable business environment in the country.

Rahul Agrawal, Ceo and Co-Founder, MebelKart :- Budget 2016 comes with a huge boost for start-up ecosystem. The government fund announced today will provide SC/ST and women entrepreneurs with easy access to funding. Budget 2016 focuses a lot on ease of doing business. With tax exemption in the first three years and ease of registering business, it becomes easier for start-ups to focus on growth in their critical years.

Sheetal V Talwar, Chairman & Managing Director, Vistaar :- I think the steps towards Startup India are measures in the right direction. It will offer youngster an opportunity to set up businesses without having to worry so much about cumbersome compliance sand focus on building businesses. Each of the initiatives shoes this government and more than that MoS Jayant Sinha's understanding, empathy and identification with start ups and entrepreneurship.

Ishan Singh, REV - Re Capital Ventures :- Starting a company in 1 day is good, but It is not just company name incorporation - we need same day real time issue of PAN/ TIN numbers. The holding period for Capital Gains should also be one year to bring parity with listed shares.

This News is Originally Posted on ECONOMIC TIME