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FM's bag: No smiles for telecom sector

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CIOL Bureau
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NEW DELHI: Union minister P Chidambaram while presenting the Budget for 2007-2008 had little to offer to the IT and the Telecom industries.

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The industry is unhappy with the budget as it offered no incentive for IT and ITES industry.

Dissatisfied over the lack of proposal for the industry, Bharti Group chairman Sunil Bharti said there was not much choice in the hands of the finance minister.

"We asked to simplify duties on telecom sector and that has been addressed by setting up of a committee," Mittal said.

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“Thanks to the policy, vision and efforts of the Telecom Minister, Dayanidhi Maran. The telecom sector has now attained the highest growth, maximum investment and has attracted lots of manufacturing units. The budget has ignored this sector and missed the opportunities to give the momentum for growth and employment opportunities. Rather a negative message has been sent by the extension of the MAT (Minimum Alternate Tax),” NK Goyal, president, Indian Manufacturing Foundation said reacting to the budget.

He said that the proposal to reduce duties on operators and excise duties on manufacturing would have greatly supplemented the efforts of the Communication Minister.

© CyberMedia News

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