rediff.com
rediff.com
Business Find/Feedback/Site Index
      HOME | BUSINESS | BUDGET 2000-2001 | REPORT
February 29, 2000

NEWSLINKS
BUDGET 2000 LIVE!
BUDGET ON REDIFF
D&B BUDGET SPL
ECONOMIC SURVEY
RLY BUDGET
BUDGET: RUN-UP
BUDGET PROCESS
BUDGET HOTLINKS
Y2K BIZ FEATURES
INDIA & THE WTO
GOVT&ECONOMY
SPECIALS
INTERVIEWS
COMMENTARY
CREDIT POLICY
BUDGET 1999-2000
USEFUL INFO
ARCHIVES
SEARCH REDIFF


'There has been an acknowledgement that the IT and telecom industries are the key drivers of the economy'

Email this opinion to a friend

BUDGET
2000
Sunil B Mittal

The telecom and entertainment industries have gained from concessions in both direct and indirect taxes. Pharma has gained by getting certain exemptions on routinely needed medicinal items.

It is overall a very well thought of and well planned Budget. The process of simplification has been carried forward and strengthened. There has been an acknowledgement of the fact that the IT and telecom industries are the key drivers of the economy in the new millennium. This acknowledgement has allowed the government to give further concessions in the form of duty reductions on computer hardware, cell phones, fibre optic cables besides giving ISPs infrastructural status.

What was disappointing was the increase in tax on dividend.

Income is an income and an income is what the FM stated in response to income on exports. Software exports will also attract income tax from the financial year 2001 onwards. However, the spread is over a five year period with a 20 per cent exemption withdrawn each year.

The net profits of software companies will be affected to that extent like any other industry.

Overall, a very positive and forward looking Budget. There is a clear thrust on the rural and agricultural sector. The simplification process will further release entrepreneurial energy.

Sunil Mittal is Chairman and Managing Director, Bharti Enterprises

Budget 2000 Live! | Budget on Rediff | Dun & Bradstreet Budget Special | The Run-up
Budget Process | Budget Hotlinks | NDA Government & Economy
Ministry of Finance: Economic Survey 1999-2000 | Budget 2000 document


Tell us what you think of this Budget 2000 coverage

HOME | NEWS | BUSINESS | MONEY | SPORTS | MOVIES | CHAT | INFOTECH | TRAVEL
SINGLES | NEWSLINKS | BOOK SHOP | MUSIC SHOP | GIFT SHOP | HOTEL BOOKINGS
AIR/RAIL | WEATHER | MILLENNIUM | BROADBAND | E-CARDS | EDUCATION
HOMEPAGES | FREE EMAIL | CONTESTS | FEEDBACK