Tech Highlights of Union Budget 2013-14

News / Telecom

Tech Highlights of Union Budget 2013-14

  • 2013-02-28 17:13:33
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News / Telecom Tech Highlights of Union Budget 2013-14
Finance Minister P Chidambaram presented one of the most extremely anticipated budgets of recent years today, a blueprint for austerity that forms the centerpiece of Indias efforts to stave off a damaging credit ratings downgrade.
That being said, here are a few highlights of the Budget that will affect tech aficionados, with pockets of all sizes:

Better Connectivity:

Government will construct a transmission system that will connect Srinagar to Leh. The project has been allocated Rs 1,840 crore.

Any Time Banking:

All branches of public sector banks will have to set up ATMs. A deadline of 31st March, 2014 has been set for the same.

Boost To Science And Technology:

The budget has earmarked a fund of Rs 200 crore to ensure innovative products reach the general public. Special emphasis will be given to Science and Technology alongside Space and Atomic Energy projects.

Entertainment On The Go:

Cities with a population of over 100,000 can have private FM radio services.

Post Offices To Get A Tech Makeover:

After several false starts, the post office will soon see some technology boost. With a Rs 4,909 crore fund in place, India Post will soon have digitised offices. Also, post offices will soon become a part of core-banking solutions that will provide real-time banking services.

Dearer Gadgets:

Customs and excise duty for several gadgets have been hiked. This means bringing in products from travels abroad (as well as imported products) will cost you more. Of these products, duty on Set Top Boxes has been hiked from 5% to 10%, imported luxury goods including high-end motor vehicles, motor cycles, yachts, and similar vessels will also attract more customs duties. Excise duty for mobile phones costing over Rs 2000 has been increased from 1% to 6%.

Cinema Halls Benefit:

Good news for movie buffs though, as Service Tax on copyright on cinematography has been exempt for movies screened in cinema halls.
Categories: Telecom

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