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Showing posts from February, 2016
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Union Budgets Snippets February 29, 2016 Sudhin Mathur, Lenovo
“The Union Budget for FY 2016-17 is a big step in terms of aiding the common man, small entrepreneurs and companies looking to invest in India. Ease of doing business and financial sector reforms being two of the nine pillars that the Government will look towards to transform India, is a welcome move. In addition to this, the rationalisation of custom duties and excise duties for raw materials, manufacturing for the IT and Hardware sector apart from various sectors to boost the Government’s ‘Make In India’ sector are definitely going to boost the manufacturing sector and lower costs for firms looking to do business in India.Passing on duty differential benefits to components and accessories that go into manufacturing of phones is clearly an extension of promoting Make-in-India. It should also help built the domestic component ecosystem in the long term. But till a competitive supplier base is established in India, there may…