But the sector will be impacted due to sluggishness in the Indian economy.
Union Budget 2009-10 has been mildly positive for the power sector.
Union budget provides no major fillip to the ailing sector.
The increase in liability towards MAT will be matched by an incremental deferred tax credit.
The hike in MAT will not be earnings dilutive but will only be cash flow dilutive.
The exemption of the value of right to use packaged software would be beneficial to the gaming industry.
The dyestuff industry is at a threshold of momentous change.
IT companies are dependant on headcount for their revenues and fringe benefits forms a part of the compensation payable to employees.
Computer education - SSA allocation stagnant with overall allocation up 5%.
Some chlor alkali producers using naphtha as feedstock for captive power plant will benefit from cut in the excise duty on naphtha from 16% to 14%.
Contrary to expectations of the chemical sector, Budget turned non event.
The reintroduction of 4 per cent optional excise duty for cotton textile products is welcoming sign.
Recommendations on direct taxes vary from seeking cut in corporate tax, re introduction of standard deduction for salaried employees, removal of STT, DDT, etc.
Amidst difficult times with the slowdown in the global economies, the IT-ITES sector seek some respite in terms of extension of STP scheme and some relief on the FBT regulations.
Amidst cyclical downtrend, the shipping sector seeks the government to create a shipping fund with an initial allocation of Rs 10000 crore for acquisition of ships.
Considering the sluggish demand in the advanced markets, and the huge working capital needs, the sector seeks funds at or lower than International interest rates
Seeks removal of customs duty on soda ash, retain excise duty at current levels and stricter enforcement of ban on use of old bottles in select sectors like pharma, etc.
Considering the sluggish global economy, India's exports were hit badly in the last few months, and to improve our global competitiveness, exporters seek hike in export benefits
Expects duty drawback to be at par with the present DEPB rates; seeks hike in depreciation to 35% seeks special fund for R & D center for the industry.
With the thrust of the government to further education and to get the education system up inline with coming times, the sector is poised for growth.
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