Wipro CFO hails Budget for meeting FY26 fiscal targets, focus on AI

New Delhi, Feb 1 (PTI) Wipro's Chief Financial Officer Aparna Iyer on Sunday commended the government for meeting fiscal deficit targets for FY26 amid a volatile external environment and tax rationalisation measures.

She also highlighted the Budget's focus on promoting the Indian IT services sector as a key driver of economic growth, with Artificial Intelligence (AI) positioned as a "force multiplier".

“It is commendable to see the government meeting the fiscal deficit targets for FY26 despite a very volatile external environment, tax rate rationalisation – both on taxation for individuals announced as part of the last budget, and GST rates rationalisation during the year,” Iyer said.

The Budget outlines the government's vision to position the Indian IT services sector as a key engine of the country's economic growth, with artificial intelligence (AI) serving as a vital force multiplier.

By placing AI at the heart of efforts to bolster and maintain economic expansion, the government aims to transform India into an AI-driven economic superpower, according to Iyer.

Iyer welcomed the proposal for long-term tax exemption on data centre services provided from India to foreign customers, stating it "will help in establishing India as a data center hub".

She also praised measures such as combining IT services and R&D services into a single bucket, increasing the threshold limit for safe harbour rules, and providing a two-year timeline for concluding unilateral Advance Pricing Agreements (APAs).

“We also welcome the government’s initiatives to further improve ease of doing business, as these reforms will support enterprises across sectors by alleviating operational challenges and boosting India’s economic growth momentum,” Iyer said. PTI ANK ANU