Financial Daily from THE HINDU group of publications
Tuesday, Mar 04, 2003
Financial Daily from THE HINDU group of publications Tuesday, Mar 04, 2003 |
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Info-Tech
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Budget `Budget will boost IT exports' Our Bureau
PUNE, March 3 THE information technology industry is upbeat about the Budget for 2003-04. Most IT scrips posted gains after the Finance Minister announced that tax exemptions under the sections 10 (A) and 10 (B) would continue. Mr Ravi Pandit, Chairman, KPIT - Cummins Infosystems Ltd, said the sector was happy about the 10 (A) exemption. "The duties have come down and as also that on embedded software. This is a welcome gesture", he said. Mr Ganesh Natarajan, Deputy Chairman and Managing Director, Zensar Technologies Ltd, said the budget was good for IT exports and that the demergers and amalgamations would pave the way for multi-level strategies. The announcement of application of IT in the tax administration and the exemption of excise duty of pre-loaded computer software have brought cheer to Indian language software companies such as Modular Systems. Mr R.R. Joshi, Director of the company, said the State governments could take a leaf out of the Central government proposals and introduce software in a big way for speeding up administrative reforms and that could give a fillip to the local language software industry.
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