| Raja asks Finmin for decade's extension on STPI |
| BS Reporter / Mumbai August 10, 2007 |
| Minister for telecommunications and information technology, A Raja, has written to Finance Minister P Chidambaram seeking a 10-year extension to the Software Technology Parks of India (STPI) scheme. The STPI scheme, which offers tax incentives to IT-BPO firms, expires in 2009. Nasscom has been pushing for extension of the STPI scheme for a few more years to partially offset the impact of rupee appreciation. It has been engaged in a dialogue with the government in this regard. It is these reasons coupled with the promising growth that prompted Raja to ask for the extension, say ministry sources. With the industry forecast to touch the $60 billion mark by 2010, Kiran Karnik, President of Nasscom at the ITeS-BPO Summit 2007 earlier this month, had urged the ministry to for an extension saying, "We are witnessing huge rupee appreciation |
