Tech, manufacturing sector get a boost

NEW DELHI: Finance minister Arun Jaitley announced a slew of measures to incentivise the next wave of digital technology in India, including the much-neglected domestic technology product manufacturing. In the full Budget for 2014-15, Jaitley announced an investment-linked deduction in tax for semiconductor wafer fabrication manufacturing units. MAIT, the apex body of computer hardware, training and software industries, had lobbied for a change in the duty structure on IT hardware manufacturing and asked for incentives for semiconductor manufacturing in India. The finance minister also announced a slew of tax measures to curb imports of semiconductor products, including imposition of customs duty on specific telecommunications products.