Post-budget 2018 Reaction Mr. Amish Panchal, President, IIF (The Institute of Indian Foundrymen)
Budget is average or slightly positive for MSME and foundry sector:
- Allocation of more funds in the infrastructure such as roads, tunnels and railways which will boost the business of foundry suppliers.
2. tax rate of 25 % up to 250 Cr will give some relief to industry.
3. Government’s proposal to give special emphasis on research and application of 3D printing technology will boost New tech. In the industry.
4. Special incentives for startups will boost New technologies.
5. More allocation in Defence sector with proposal of private investment give fillip to Foundries.
6. Sizeable amount allocated to rural infrastructure and agricultural sector and Rs. 7100 cr allocated for textile industry which are consumer sector of FOUNDRY industry will increase business for the industry.
Overall industry was expecting more from FM for job creations and overall boost for the industry.
