Software park concessions likely to see three years extension: Raja
12 Sep 2009
Union IT and communications minister A Raja said his ministry was waiting for cabinet approval for the extension of incentives under the STPI scheme. The scheme benefits are likely to be extended by three years.
''The union ministry for communications and information technology is for extending the tax benefits enjoyed by the STPI registered ICT units by three more years from 2011. The proposal is, however, pending cabinet approval,'' Raja said.
"We have made our recommendations. Now, it is up to the finance ministry to take a decision on this," Raja added.
According to Raja, the Indian information industry went through a period of transformation last year with the changing economic scenario.
He said the government now was focusing on promoting semi-conductor hubs in India on a large scale.
The Software Technology Parks of India scheme provides tax exemptions for IT export companies that fall outside special economic zones. The scheme is scheduled to terminate in March 2010.
