IT Ministry Current Affairs - 2020
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Union Minister of Electronics and Information Technology (MeiTY) Ravi Shankar Prasad unveiled a MeitY Startup Hub (MSH), a platform to connect startup ecosystem, at the MeitY Startup Summit 2019. This hub will facilitate MeitY’s vision of promoting startups, technology innovation and creation of Intellectual Properties.
MeitY Startup Hub (MSH) has been envisaged as a comprehensive collaborative platform to act as a national facilitation, coordination and interconnected centre for all activities in technology startup ecosystem.
It will support startups to reach out to mentors and facilitate startups to scale from ideation stage to marketplace.
It is also mandated to integrate existing innovation related activities and programmes of MeitY.
MSH portal act as a platform to bring onboard and connect key constituents of tech startup ecosystem with startups, mentors, Centres of Excellence (CoEs), Technology Incubation Centres (TIC), Venture capitalist (VCs) and Angels funds together.
Tags: IT Ministry • MeitY StartUp Hub portal • MeitY Startup Summit • Ravi Shankar Prasad
The Ministry of Electronics and Information Technology (MeitY) in its key recommendations for Union Budget 2017-18, has suggested differential excise duty regime and tax exemptions to be expanded to personal computers and servers.
Ministry’s suggestions were as per the Phased Manufacturing Roadmap, it had worked out in consultation with the NITI Aayog.
Recommendations for Budget
- Retain differential excise duty regime and tax exemptions granted for the manufacture of mobile handsets and tablets, under the impending GST regime, to boost domestic manufacturing of electronic products.
- The current differential duty makes imports of mobile handsets more expensive compared with making them locally, encouraging smartphone players to set up manufacturing units in India.
- Specified capital goods for the manufacture of electronic goods be exempted from basic customs duty and countervailing duties to increase the competitiveness of the Indian electronics Industry.
- Specified key raw materials and inputs for the boosting manufacture of LCD and LED panels should be permitted at 0% customs duty.
- Extension of income tax benefit for research and development (R&D) to software products and the chip design industry. The proposal is expected to boost the generation of intellectual property in the country.
Tags: Business • Economy • Electronics Sector • IT Ministry • Manufacturing duty