India a global hub for electronics manufacturing – 6th Pre-Budget Consultation Meeting
The Union Minister of Finance and Corporate Affairs Shri Arun Jaitley said that to promote indigenous manufacturing of electronic goods, many steps have been taken by the present Government in last three years including rationalization of the tariff structure with extension of differential excise duty dispensation on specified electronic equipments and withdrawal of duty exemption etc. The Finance Minister said that in the Union Budget 2017-18, with the aim of creating an eco-system to make India a global hub for electronics manufacturing, the allocation for incentive schemes like M-SIPS and EDF has been exponentially increased to Rs 745 crores. The Finance Minister Shri Jaitley was making the Opening Remarks during his 6th Pre-Budget Consultation Meeting with Stakeholders from IT (Hardware &Software) Group in New Delhi.
Recommendation made by IT stakeholders to the government for the purpose of Budget 2017-18:
- Steps should be taken for rationalization of the tariff structure with extension of differential excise duty dispensation to mobile handsets/ tablet computers and other specified electronic equipment.
- Steps should be taken in the forthcoming budget for Promoting Broadband;
- Access for easier fund for Telecom;
- Tax free Bond for Telecom;
- Lowering GST on Telecom services to 12 per cent instead of 18 per cent;
- BCD on all non ITA-1 products;
- Depreciation benefits for Make in India;
- Promote components hub;
- Keep Electronics Sector out of RCEP and increase import duty on Mobile handsets.