Semiconductor policy before Cabinet soon

A draft version of the much-delayed semiconductor policy will be placed before the Union Cabinet for approval soon.

"I cannot specify the deadline. All I can say is that the semiconductor policy will be out soon. A Cabinet note on the policy is being prepared," Union IT Minister Dayanidhi Maran told reporters here today.

According to him, all "hurdles" in the way of the policy had been overcome. Incidentally, the Union finance ministry and the Union IT ministry had been at loggerheads over extending tax benefits to the semiconductor industry.

The finance ministry was reportedly worried over the revenue implications of extension of such benefits to the industry.

When asked about the reported differences between the two ministries, Maran said: "We are in a democratic set-up and everybody is free to air their views. We are committed to supporting the growth of the semiconductor industry. Both the ministries are working closely on the issue. We are batting on the same side."

He said the policy aimed at creating a perfect ecosystem for growth of all aspects of the semiconductor industry.