NEWS /

Budget 2007: Alok Mittal, Executive Director, Canaan Partners

| 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

 


Nokia Asha 501

Nokia Asha 501

09 May, 2013, 01:31 PM

3.1

Samsung Galaxy S4 First Impressions

Samsung Galaxy S4 First Impressions

26 Apr, 2013, 01:40 PM

3.4

XOLO X1000 Review

XOLO X1000 Review

08 Apr, 2013, 03:34 PM

3.1

MORE PHOTOS

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

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

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

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

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

SPOTLIGHT

Monaco: What's Yours is Mine Review

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

Samsung Galaxy S4 Video Review

Samsung Galaxy S4 Video Review

14 May, 2013, 11:30 AM

4.5

HP ElitePad 900 Video Review

HP ElitePad 900 Video Review

14 May, 2013, 11:24 AM

2.5

Samsung Galaxy S4 interface and gestures demo

Samsung Galaxy S4 interface and gestures...

26 Apr, 2013, 02:55 AM

3.1

MORE VIDEOS

Lenovo ThinkCentre M72e Review

Deepak Malhotra

Sat May 18, 22:03:16

ZTE introduces Intel-powered Grand X2 In smartphone

Sachida Nand

Sat May 18, 20:07:37

MORE DISCUSSIONS