Anchor Budget Reaction – Mr. Dinesh Aggarwal,Jt. Managing Director, Anchor Electricals

“Though there was no specific announcement on reducing Import duty on project imports or encouragement of energy saving products, we at Anchor believe that the overall direction of the budget was consistent with the government’s commitment to strengthen the confidence in the Indian economy. The macro indicators are positive and there is a direction set to strengthen the governance of financial markets and move towards global standards, commitment towards investment directly by the government and through public participation in Infrastructure development. The reduction in tax on Royalty will encourage technology infusion and manufacturing of technology products in India. The phased reduction in corporate tax, reduction of customs duty in specific raw materials and inputs will support the “Make in India” initiative further. Clearly, the Government’s intention is to empower the poor and the old in recognition of the rising health care costs and aging population. Overall, the budget has set a positive direction and its for the businesses to react in support now. ”