Business Daily from THE HINDU group of publications
Sunday, Jul 23, 2006
Business Daily from THE HINDU group of publications Sunday, Jul 23, 2006 |
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Info-Tech
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Hardware Industry & Economy - Budget States - Tamil Nadu Concessions for computer manufacture in TN Our Bureau
IT push Special concessions to computer companies setting up plants in the State. The companies will be exempt from General and Central Sales Tax without any limit. The State will also set up an information technology park in Coimbatore.
Chennai , July 22 The Tamil Nadu Government will grant special concessions to companies that set up plants in the State to manufacture computers. These companies will be exempt from General and Central Sales Tax without any limit on the sale of computers manufactured, with an investment exceeding Rs 100 crore in the special economic zones in the State. This concession will be given for a 10-year period from the year production begins, according to the Finance Minister, Mr K. Anbazhagan, who presented the 2006-07 Budget on Saturday.He said the Government would come out with a new industrial policy this year and would also set up a special task force under the Chief Minister with representation from industry and commerce associations, to solve problems arising in industries and commerce and to ensure hassle-free growth of industries.
Corridor of excellence
Mr Anbazhagan said the Government proposed to create an industrial corridor of excellence with industrial parks, special economic zones, information technology parks and integrated townships along the corridor. The corridor would be connected to airports and sea ports through express highways and railway lines. The Government would also establish a second Tidel Park - an information technology park - at Taramani in Chennai. The first Tidel Park, built by government undertakings, in Taramani was constructed when the DMK was in power from 1996 to 2001. An information technology park would be established in Coimbatore, jointly by the State Government and the Software Technology Parks of India. The Government would constitute a State Information Technology Task Force with representation from the IT sector to identify infrastructural requirements. Mr Anbazhagan said sales tax would be exempted for licensed Tamil software.
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