EBM News
EBM News

Budget Quote – Mr. Vijay Mansukhani, MD, Mirc Electronics Ltd (Onida)

Below is the views on Budegt Quote 2019 by Mr. Vijay Mansukhani, MD, Mirc Electronics Ltd (Onida)

“Overall budget is very positive for middle class, as the Government has put in more disposable income in the hands of middle class of the country. This is much needed for a long time. On the other hand there is good balancing act done to agriculture sector, which would bring in much need relief to farmers of the country.

Increase in disposable income in the hands of both middle class and rural India is definitely going to spur demand for consumer durables goods like televisions, air conditioners and washing machines. This move is definitely positive for us.

Government should have worked on selective Free Trade Agreements with countries like Korea, Thailand, Vietnam and Malaysia for agricultural products rather than encouraging duty free import of consumer durables from these countries. The recent move of the Government of India to reduce customs duty on goods imported from Korea from 6.9% to 6.3% and from Vietnam, Thailand, Malaysia and Sri Lanka to zero is detrimental to Make in India initiative of the company. On one side the Government of India have been promoting make in India and on the other side entering FTA’s with these countries, which will not encourage the growth of manufacturing in India.”