Budget tax cuts provide fillip to TV services
EmptyMUMBAI -- The government's proposal to exempt digital set-top boxes from customs duty is expected to give a fillip to television services providers via conditional access system and direct to home.
The finance minister proposed to exempt from duty specified parts of set top boxes in his 2008/09 budget speech on Friday.
"We were long waiting for such a change," said Deepak Chandnani, chief executive officer of Wire and Wireless (India) Ltd.
"This path-breaking initiative will tremendously encourage the multi-system operators to go for voluntary digitalisation and will facilitate win-win proposition for all players in the industry," he added.
The exemption of customs duty on specified parts of set top boxes were a welcome measure for the Information Communication Technology industry, said Naresh Wadhwa, President & Country Manager, India and SAARC, Cisco.
Shares in Wire and Wireless closed up 0.95% at 47.75 rupees after reaching a high of 49.80 rupees in intra-day deals, while that of Dish TV India Ltd climbed off a high of 65 rupees before closing at 61 rupees.