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Govt mulling move to raise tax sops on IT hardware

The government is considering the proposal to increase the production-linked incentive (PLI) scheme for IT hardware beyond Rs 7,325 crore, as the industry has suggested it to double the outlay of the scheme to Rs 15,000 crore and hike the rate of incentive to 5%. Thus, it has asked for estimates of production, exports and the nature of value addition that will take place if the outlay of the scheme is extended. Cabinet Minister Ashwini Vaishnav, who holds the IT portfolio along with telecom and railways, is planning to meet the industry before taking a final call on the matter.

“We have asked the industry to submit their fresh estimates of the production figures, the export figures and the nature of value addition that will take place if its proposal was to be accepted,” stated a senior government official. Meanwhile, George Paul, CEO of Manufacturers’ Association for Information Technology (MAIT), added “We have approached MeitY for a relook at the PLI as in its current form it fails to attract the investments and production from global value chains to the full possible potential.” It also pushed for increasing the span of the scheme to eight years from four now. India Business

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