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Union Budget 2017-18 provides renewed impetus to manufacturing and Make in India

Budget - Dated:- 2-2-2017 - Commerce and Industry Minister Smt. Nirmala Sitharaman has welcomed the Union Budget 2017-18 presented by Finance Minister Shri Arun Jaitley which provides renewed impetus to manufacturing and Make in India, export infrastructure and Government e-marketplace. Several measures have been announced in the Budget 2017-18 to provide impetus to commerce and industry . The key initiatives include 1. A Special Scheme for creating employment in leather and footwear industries .....

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inues. 3. Further liberalisation of FDI policy is under consideration and the Foreign Investment Promotion Board (FIPB) to be abolished in 2017-18. 4. In order to make MSME companies more viable, income tax for companies with annual turnover uptoRs. 50 crore is reduced to 25%. About 96% of companies will get this benefit of lower taxation. This will make our MSME sector more competitive as compared to large companies. 5. MAT credit is allowed to be carried forward up to a period of 15 years inst .....

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acturing of medical devices, those used for digital transactions and capital goods have also been announced. 8. Infrastructure - a key pillar under the Make in India programme has been strengthened with a large budgetary allocation. The total allocation for infrastructure development in 2017-18 stands at ₹ 3,96,135 crores. A specific programme for development of multi-modal logistics parks, together with multi modal transport facilities, to be drawn up and implemented. 9. Tourism is a big .....

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