February 24, Tuesday: With Budget 2015 just three days away, the industry is upbeat about what the Finance Minister’s briefcase will hold for them. Dinesh Aggarwal, joint managing director, Anchor Electricals Pvt Ltd shares his expectations and optimism for the upcoming budget.
“The new government is very supportive of industrial growth and considering the recent developments and through the honourable PM’s direction to ‘Make in India’; it has been able to extend the investment avenues and re-instil faith in the industry for strengthening the Indian business infrastructure further. If this optimism can be supported with tax reforms like the implementation of Goods and Service Tax (GST); it would stimulate and foster investment and build a sustainable business environment for all the players. We are also hopeful that the upcoming budget would focus on recommendations like zero per cent customs duty for project imports in the power, electrical & energy sector encouraging businesses to develop their manufacturing set-ups and invite new investments. A relaxation up to five per cent on excise duty on manufacturing of energy efficient products would surely stimulate the growth of this industry.”
