Financial Bill presented by Yashwant Sinha in New Delhi

From the archive record

It was a fresh set of sops from union finance minister Yashwant Sinha and a firm negation of any role back in prices. The amendments to the finance bill 2000 introduce tax incentives for the information technology housing and pharmaceuticals sectors. There would be no tax on venture capital income and implies stock options would be subject to capital gains tax on sale. Software exports are expect the rate of 70 percent in the current financial year, the tax holiday for units and software technology parks and export oriented units would be faced out over a period of 10 years. Industrialist field, this facing out would bring to an end the discrimination between old and new software companies and lead to proliferation of more IT firms in India. To give a further boost to the housing sector