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IT, telecom, entertainment get rebates

BUDGET 2000

Finance Minister Yashwant Sinha today gave a big boost to information technology, telecommunications and entertainment in an attempt to promote the fast-emerging convergence revolution.

He announced an across-the-board reduction in customs duty for computer components. Import duty on computer motherboards has been slashed from 50 to 20 per cent; for semi-conductors the duty has gone down from 15 to 5 per cent; and for both microprocessors and integrated circuits the duty has been slashed from five per cent to nil.

In telecommunications, basic customs duty on specified raw materials for manufacture of optical fibres has been reduced from 15 per cent to five per cent. For cellular phones the duty has been reduced from 25 to five per cent.

Import duty on cinematographic cameras and other related equipment has also been cut by 15 per cent.

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