Pre-Budget expectation 2015-16 by Mr. Prashant Bindal, CEO, Spice Mobility Ltd.
The upcoming budget should focus on mitigating the business risks and overcome the policy challenges currently obstructing development and progress in the sector. The primary area of concern should be the rationalization and simplification of the taxation structure for the sector, to incentivize domestic manufacturing; grant of infrastructure status along with allied benefits to enable long term growth of the sector. In the short term, reduction in import duty costs will enable the manufacturers to meet the rising demand of hardware and electronics in the country. Additionally, the government can introduce more generic policies to enable liberalization in the Indian economy, attracting foreign and domestic investments in the sector and enabling domestic manufacturing and sourcing.
