Updated 18 May, 2013, 5:40 pm IST

Budget 2007: Alok Mittal, Executive Director, Canaan Partners

28 Feb, 2007 | by Minu Sirsalewala |

Highlights of the Budget for Venture Capital and IT:

There is a Pass-through status for Venture Capital (VC) investments in research in new chemical entities, dairy, poultry, bio-fuels, biotech, IT, nanotechnology.

Minimum Alternate Tax (MAT) has been extended to IT companies; IT companies to pay 11.22% of adjusted book profits. The E-governance allocation is to be increased from Rs.395 to Rs.719 crore. This will enable greater efficiencies in government administration, improved citizen-government interaction and a positive multiplier effect on the pace of IT adoption in the country.

Regarding ITI's, another 300 ITI's are expected to be covered by August 2009. Interest free loan of up to Rs 2.5cr for upgradation of ITI's. ITI's encouraged to start a second shift.

Rs. 33 crore to be invested in manpower development for the software export industry.

Recommendations:

The government actions should include lowering costs for the end user by rationalizing taxes that impact IT services, software and hardware domestically and put in place policies that encourage investment. Extension of the tax holiday for the IT sector is a critical aspect to creating a sound IT infrastructure in the country. Tax rebates for individuals investing in computers and subscribing to broadband access in rural areas would provide sufficient incentive for creating rural entrepreneurs to run and manage such kiosks. This would ultimately help in taking the benefits of IT to rural areas and usher in IT-led development.

Tags: Budget 2007 , Alok Mittal

MORE VIDEOS

06 Mar, 2008, 04:23 am IST

Excel Magic Tricks # 1_ Formulas & Cell ...

07 Jul, 2010, 01:46 am IST

Excel Magic Trick 642_ SUMIFS function o ...

15 May, 2010, 04:05 am IST

How to Merge Multiple Excel Workbooks to ...

03 Feb, 2010, 01:40 am IST

Excel Magic Trick 490_ Conditional Forma ...

TRENDING NOW!

Your Aadhaar card hasn’t reached you yet? Download e-Aadhaar

6 Things to look for when buying a 'future-proof' smartphone

Smartphone launches this week: May 13-17

Samsung Galaxy S4 and stock Android: A match made in heaven

Hands-on with the quad-core Panasonic P51

4.3-inch, Intel-based, Xolo X910 smartphone spotted online

Nokia Asha 501

09 May, 2013, 01:31 PM

3.1

Samsung Galaxy S4 First Impressions

26 Apr, 2013, 01:40 PM

3.4

XOLO X1000 Review

08 Apr, 2013, 03:34 PM

3.1

MORE PHOTOS

Leaked Images, Availability, Pricing,
Specs, Pre-order

Facebook

BlackBerry 10

Nokia Lumia Series

Samsung Galaxy S4

6 Things to look for when buying a 'future-proof' smartphone

If you’re out looking for a new smartphone, then there are a couple of...

By Roydon Cerejo

First Impressions: Hangouts app

By the look of it, Hangouts appears to be a perfect combo of Google’s...

By Naina Khedekar

Smartphone launches this week: May 13-17

In the hustle-bustle of everyday life, you might have missed the launch of

By Nikhil Subramaniam

MORE FEATURES

Mobile Grudge Match: Samsung Galaxy S4 vs HTC One vs Sony Xperia Z

Not only does the S4 have some big shoes to fill, it also faces fierce...

By Roydon Cerejo

Nokia Asha 501: A Specifications Review

Nokia has just refreshed its Asha series by announcing the brand new Asha...

By Roydon Cerejo

First Impressions: Nokia Lumia 720

Priced just shy of Rs 20,000, the Lumia 720 is designed to offer the best...

By Roydon Cerejo

MORE FEATURES

5 Smartphone accessories perfect for your pocket

Whether you are planning short weekends or thinking of a long holiday this

By Francis D'sa

Build a powerful desktop PC for less than Rs 27,000

We kick-start our summer desktop PC-buying guide with building a basic yet

By Roydon Cerejo

First Impressions: Nokia Lumia 720

Priced just shy of Rs 20,000, the Lumia 720 is designed to offer the best...

By Roydon Cerejo

MORE FEATURES

SPOTLIGHT

HTC One production capacity improving,...

18 May, 2013, 04:38 PM

LinkedIn bans prostitutes and escorts from...

18 May, 2013, 05:10 PM

6 Things to look for when buying a...

18 May, 2013, 01:07 PM

Hatim Kantawalla

Samsung Galaxy S4 and stock Android: A match made in heaven

The combination of supreme hardware, class-leading software and the guarantee of getting timely upda...

BBM and Google Hangouts can't fix the sorry state of mobile messaging

Jamshed Avari

Nokia misses mark with Lumia 720's low RAM

Nikhil Subramaniam

MORE OPINIONS

Gmail is down... again!

13 May, 2013, 12:40 PM IST

5 Smartphone accessories perfect for your pocket

07 May, 2013, 01:29 PM IST

Is Samsung 'mentally enslaving' Indian smartphone buyers...

17 May, 2013, 07:51 PM IST

Samsung Galaxy S4 vs HTC One vs Nokia Lumia 920: Camera shootout

13 May, 2013, 05:40 PM IST

Samsung Galaxy S4 Review

08 May, 2013, 06:03 PM IST

Monaco: What's Yours is Mine Review

18 May, 2013, 09:40 AM IST

8.5

With the recent dearth of full-blown AAA games, we figured it'd be a great idea to take advantage of the free time and play some indie games. One of the games that immediately caught our attention was Monaco: What's Yours is Mine.

Injustice: Gods Among Us Review

LG 55LA6910 2013 Smart LED TV Review

Samsung Galaxy S4 Review

Asus FonePad Review

HP ElitePad 900 Review

MORE REVIEWS

Micromax Superfone Canvas 2 A110 Review

10 Dec, 2012, 04:45 PM IST

6.0

With the huge success of the Superfone Canvas A100, Micromax has decided to do raise the bar once again for what a sub-10K Android smartphone should look like.

Samsung Galaxy Grand Duos I9082 Review

Micromax A116 Canvas HD Review

iBall Slide Android Tablet Review

Sony Ericsson Xperia Neo V Review

Samsung Galaxy Y (GT-S5360) Review

MORE REVIEWS

Micromax Superfone Canvas 2 A110 Review

10 Dec, 2012, 04:45 PM IST

6.0

With the huge success of the Superfone Canvas A100, Micromax has decided to do raise the bar once again for what a sub-10K Android smartphone should look like.

Micromax A75 Superfone Lite Review

Micromax A116 Canvas HD Review

Micromax Superfone Canvas A100 Review

Micromax Funbook P300 Review

Samsung Galaxy Tab 2 310 Review

MORE REVIEWS

Temple Run 2 update brings new terrain, two new ways to die

18 May, 2013, 05:40 PM

Physicists discover affordable way of making sophisticated 3D images

18 May, 2013, 05:14 PM

LinkedIn bans prostitutes and escorts from its network

18 May, 2013, 05:10 PM

MORE NEWS

Temple Run 2 update brings new terrain, two new ways to die

18 May, 2013, 05:40 PM IST

Runaway hit iOS and Android game Temple Run 2 has received a major update that besides bringing in new graphics is also adding more powerups, achievements

Physicists discover affordable way of making sophisticated 3D images

LinkedIn bans prostitutes and escorts from its network

Original Sonic the Hedgehog comes to Android

Adult video streaming service SugarDVD will be available on next-gen Xbox

HTC One production capacity improving, confirms executive

MORE NEWS

PSN Down a Day after Hackers Promise Revenge on Sony

05 Apr, 2011, 09:44 AM IST

A day after hacker group Anonymous, or a group claiming to be them, promised revenge on Sony, PSN is down for 'sporadic maintenance'.

Firefox 12 available for download now

Micromax launches Funbook Talk P350 tablet for Rs 7,249

Micromax Ninja 4 A87 launched for Rs 5,990

BSNL Penta T-Pad IS701C Tablet launched at Rs. 4,999

Samsung didn't pay Apple $1.05 billion in 5 cent coins

MORE NEWS

Micromax launches Funbook Talk P350 tablet for Rs 7,249

05 Oct, 2012, 02:34 PM IST

Micromax has just announced the Funbook Talk (P350) tablet in India for a street price of Rs.7,249. The budget tablet is a new addition to the Funbook line-up

BSNL Penta T-Pad IS701C Tablet launched at Rs. 4,999

Zen Mobile's Ultratab A100 up on HomeShop18 for Rs. 5,999

Yahoo shutting down Messenger services, public chat rooms

Do not respond to calls from numbers starting with +92, #90 or #09

Aakash 2 launched, available to students for Rs 1,130

MORE NEWS

Samsung Galaxy S4 Video Review

14 May, 2013, 11:30 AM

4.5

HP ElitePad 900 Video Review

14 May, 2013, 11:24 AM

2.5