#Budget2016: Post Budget 2016 reaction by Mr. Ashok Chandak, Sr. Director, Global Sales & Marketing, NXP Semiconductors
The Union Budget 2016-17 has been focusing on supporting existing government initiatives like ‘Make in India’, ‘Digital India’ and ‘Start-up India’. There are several incremental steps being taken in this direction though no major or path breaking policy initiatives.
Government’s commitment to encourage investment in manufacturing and infrastructure will propel growth and there are measure to boost the start-up ecosystem and IP development in Country. Furthermore, the government has initiated additional steps on increasing local value addition for the Make in India of few electronic products such as set-top boxes, mobile phones, routers, telecom equipment’s, electric vehicles, solar products , Computer’s, etc. with due importance as they hold the key to the nations’ inclusive development. Though, in short term the prices of these products may go up marginally. The initiatives to accelerate digital literacy in rural India and e – Learning platform is a good step towards skilling India. We expect that some of the funds made available for MoRT&H will be utilised for the road safety and infrastructure through use of technologies and we also expect All India Radio to speed up Digital Radio transmission in the spirit of Digital India.
Overall, there are several policy measures and initiatives, if implemented rightfully would have a transformative impact on our economy and the lives of people in the longer run. However, our country still needs to rely on the existing policies and this may pose some challenges in accelerating the Make in India momentum.
Technuter.com News Service
