MIT secretary calls for simplification of tax structure

The Secretary of the newly created Ministry of Information Technology (MIT) P.V.Jayakrishnan has proposed to strive for the simplification of tax structure and procedures concerning all sectors of the electronics industry.

He said his Ministry was already in dialogue with the concerned departments of the Government to bring down duty on all raw materials that go into the making of electronic components. Addressing the first meeting of the Development Council of Electronics Industry after the formation of the MIT, he said "Though we are much ahead in software exports, the hardware sector needs special attention." He told the meeting that the MIT would have frequent interaction with the managers of the electronic industry to address their problems and bring about solutions.

P.V. Jayakrishnan, who is also the Chairman of the Development Council, said the role of his Department will now be more of a promoter than a regulator. He said all steps will be taken to achieve the software exports target of $50 billion by 2008 set by the IT Task Force. He also said that all policies and recommendations set out in the IT policy will have to be achieved in a targeted schedule. The MIT has the mission objective of the Prime Minister to make India a global information technology power and one of the largest generators and exporters of software in the world within 10 years. He pointed out that a major portion of the recommendations of the IT action plan, submitted by the task force, have been implemented and action is underway for the execution of the remaining recommendations.