Cadence quote on the Union Budget announcement

Dear Mr. Murali,

I write to you on behalf of Cadence Design Systems.

Here is a quote from Jaswinder Ahuja, Corporate Vice President and Managing Director, Cadence Design Systems, India on the Union Budget 2009-10 announced today. Jaswinder is also a member of the Executive Council of the India Semiconductor Association (ISA) and has served as the Chairman of ISA from April 2008-09. Also, attached is his photograph.

Hope you will be able to use the same.

Regards,

Subhashini

Please attribute the following quote to

Jaswinder Ahuja, Corporate Vice President and Managing Director, Cadence Design Systems, India

“The Union Budget announced today seems to be pro-development and has made some welcome allocations towards infrastructure creation and betterment as well as social welfare projects.

The budgetary allocation towards schemes such as the unique identity number for every Indian enabled by the creation of the Unique Identification Authority of India (UIDAI) will set the tone for future public private partnerships as well. Apart from establishing a foundation to deliver better governance it creates new opportunities for the semiconductor sector.

Reducing customs duty on LCD panels and introducing customs duty on set-top-boxes both signal a pro-manufacturing agenda, which is much needed.

Scrapping the Fringe Benefit Tax (FBT) provision, increasing the slab for personal income tax and abolishing the surcharge on Income Tax are welcome measures. Extension of the STPI scheme for one more year is a good step, however the government needs to think of an appropriate scheme that incentivizes SMEs to foster innovation in the knowledge sector”

Subhashini Pattabhiraman

Senior Account Executive

Text 100 Public Relations

D: +91 80 2554 8808-11 (x.115) M: +91 99860 73635 E: subhashinip@text100.co.in

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