New Delhi: Manufacturers’ Association for Information Technology (MAIT)—the apex body representing India’s IT hardware, training and R&D services sectors, welcomed the thrust given in the Union Budget to sustaining the national economic growth and making it inclusive. Further, the industry body expressed satisfaction that the Government has announced several schemes towards promotion of education and healthcare, especially for the socially and economically underprivileged.
Congratulating the Union Finance Minister, Shri P Chidambaram, Mr Vinnie Mehta, Executive Director, MAIT, said, “We welcome the government’s decision to maintain the current levels of custom duty and a two percent reduction in the mean CENVAT rate (Excise duty/CVD) on all IT products to fourteen percent from Sixteen percent, while the excise duty on computers continues to be twelve percent,” he added, “Further, the focus given on education and skill development is indeed very welcome as this would be integral to sustain the competitiveness of the entire IT in the long run. The hardware industry supports such growth oriented, benign developmental initiatives which will positively impact the investment climate and business sentiments of the industry.”
