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Follow UsNEW DELHI: The Manufacturers' Association for Information Technology (MAIT) today welcomed the thrust given in the Union Budget to sustaining the national economic growth and making it inclusive.
The apex body representing India’s IT hardware, training and R&D services sectors,
expressed satisfaction that the Government has announced several schemes towards promotion of education especially among the socially and economically backward.
Congratulating the finance minister, P Chidambaram, Vinnie Mehta, executive director, MAIT, said, “We welcome the government’s decision to maintain the current excise and custom duty levels on IT products. The hardware industry supports long-term stability in policies and duty structures as frequent changes could adversely impact the investment and business plans of the industry."
Also read: Rethink taxes, urges hardware sector
"The last fiscal witnessed impressive growth in IT consumption as well as manufacturing investments and we are confident this momentum will continue this financial year. Further, the focus given on education is indeed very welcome as developing suitably skilled human resource is critical to sustain the competitiveness of the IT sector as a whole,” he said.
“ We also welcome the increase in budgetary allocation for e-governance at the centre by 82 per cent to Rs 719 crores and to state Governments by 66 per cent to Rs 500 crores, in addition to the decision to computerise the public distribution system and the Food Corporation of India. These steps will provide further impetus to the industry,” added Mehta.
Meanwhile, FICCI said the finance minster has sent wrong signals to the corporate world.
"Wrong signal has been sent to the corpoprate world with the increase in cess and dividend distribution tax. It is difficult to understand how the multiple taxes should be charged. The feeling of the chamber is that the Finance Minister has lost an opportunity of providing relief to the corporate world," Habil Khorakiwala, president of FICCI said.
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