Union Budget 2008-09 - India

The Indian IT and ITeS industry across all sectors on 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.This was critical for SMEs and BPOs.

The scheme, offering tax sops for the industry, expires March 31, 2009.

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