Yashwant Sinha introduced India’s first millennial budget in 2000. The budget aimed at making India an IT hub. He slashed custom duty on 21 IT items.
“Computers, from 20% to 15%, motherboards, from 20 percent to 15 percent, floppy diskettes, from 20 percent to 15 percent, specified capital goods for manufacture of semiconductors and ICs, from 15 percent to 5 percent, microprocessor for computers, from 5 percent to nil, memory storage devices, from 5 percent to nil, CD ROMs, from 5 percent to nil, integrated circuits and microassemblies from 5 percent to nil and data graphic display tubes for colour monitors for computers from 5% to nil,” Sinha had then said.
However, he faced a lot of backlash for not bringing long-term economic reform.