Ravi Shankar Prasad has said that the Budget proposals to rejig duty structures for some handset peripherals and components will encourage local manufacturing.
"Customs and excise duty structure plays an important role in incentivizing domestic value addition towards Make in India campaign of our Government."
The Telecom Regulatory Authority of India recommended putting up 2,142 MHz of spectrum for sale in 2016, which, if approved, may be the largest quantum to be auctioned.
FM said that assignment to right to use radio frequency spectrum will not be taken as a sale of intangible goods and therefore will be liable to service tax.
Telcos had sought quashing of the regulation, arguing that TRAI's compensation regulation was a 'knee-jerk reaction' which penalised them without proving anything.
Ringing Bells has started refunding customers who paid upfront for Freedom 251 after intense scrutiny of its business model and allegations of fraud.
CCAvenue, the payment gateway used by Ringing Bells on its website, told ET that it has started refunds worth Rs 84 lakh for 30,000 transactions.
LeEco is setting up own delivery network in 10 cities to offer its content to users of its devices — smartphones for now, and televisions later.
Most Chinese smart phones are priced around Rs 10,000 or less, and those priced more are still cheaper than other established foreign brands.
In the wearable segment, Intex showcased its kids smart watch named iRist Junior, which has parental guidance features like geo-fencing, calls and other security features.
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