What the Budget does

• Exemption from customs duty on specified parts of set top boxes and specified raw materials for use in the IT/ electronic hardware industry.
• Reduction in customs duty on convergence products from 10% to 5%.
• No change in the corporate income tax rates.
• No change in the rate of surcharge and dividend distribution tax.

Impact on sector

• The exemption of customs duty will bring broadcasting equipment like set top boxes on par with rates applicable on telecom equipment and provide a fillip to the DTH industry that uses set top boxes.
• It will also encourage domestic production of set top boxes.

Major stocks:
NDTV
Adlabs
UTV
BAG Films & Media Ltd

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Image: A newspaper vendor displays his wares

Photograph: Pal Pillai/AFP/Getty Images

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Also read: Union Budget 2008-09: Complete coverage