Indian IT industry dissatisfied with budget
The Indian IT and ITeS industry across all sectors Friday felt let down by the national budget for 2008-09, finding little in it to boost growth prospects. The National Association of Software and Services Companies (Nasscom), the leading IT industry lobby, indicated extreme disappoint as Finance Minister P Chidambaram did not comment on extending the Software Technology Parks of India (STPI) scheme. The scheme, offering tax sops for the industry, expires March 31, 2009. This (STPI scheme) is extremely critical for small enterprises and the BPO industry, as well as for expansion in tier 2 and tier 3 cities as they are unable to avail the benefits of the SEZ (special economic zone) scheme, said Nasscom.
Business Process Industry Association of India (BPIAI) president Sam Chopra said: Extension of tax holidays for STPI units for 20 more years would have helped the fast growing domestic business process industry segment. From IT and telecom industry point of view, apart from few small indirect positives, it was a lacklustre budget, said Sourabh Kaushal, industry manager (South Asia and Middle East), Frost & Sullivan, a global consulting firm.
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