After the declaration of the national budget for 2008-09, small and medium IT enterprises get disappointed, as there is not much scope to enhance growth prospects of the IT industry.
The National Association of Software and Services Companies (Nasscom) showed extreme distress as Finance Minister P. Chidambaram did not remark on extending the Software Technology Parks of India (STPI) scheme.
The STPI scheme that offers up tax exemptions for the IT industry expires on March 31, 2009.