...Not So Good For ICT Industry
Overall this budget is good for the IT sector, however, the ICT Industry was looking for more support from the government, said Ajai Chowdhry, CEO and Chairman, HCL Infosystems.
"We had recommended a 100% depreciation on financing of IT equipments which was not included. On taxation aspect, the excise/CVD exemption is unclear as it was not stated whether VAT is included in this or no," said Chowdhry.
On a positive note, Chowdhry said the government has put a huge focus on R&D and it is good to see continuity of fiscal stimuli.
Various projects and schemes announced in the budget will require increased role of Information Technology, for example, the UID project. "It is critical now to implement these projects at the earliest," he said.
Other encouraging measures include the ‘Mission in Education through ICT’, which has been substantially increased to Rs.900 crore, and the provision for setting up and up-gradation of polytechnics under the Skill Development Mission enhanced to Rs.495 crore.
"It was also discouraging to see that the extension of the sunset clause was only for one year, which ideally should have been extended for a longer period," Chowdhry said.
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