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Post Budget Reactions: Consumer Electronics

Photo Credit :

Anirudh Dhoot, President, CEAMA & Director, Videocon
The Finance Minister has a given balanced Budget and kept the basic tax structure unchanged except increase of surcharge in some cases. Focus is given to infrastructure and development of science and technology. As far as electronics industry is concerned, it is encouraging to promote set top box manufacturing by increasing import duty from 5 per cent to 10 per cent and to boost local manufacturing of high tech electronic products in India. Excise Duty on mobile phone above Rs 2,000 raised from one to six percentage on the basis of MRP. So mid and high end mobile phone will get costlier. Further if an MSME grows into a larger enterprise, benefits or preferences will continue up to three years after its growth and this will give incentives to MSME to grow to their potential. Overall, the budget is positive for the Consumer Durables & Electronics Industry.

Pranay Dhabhai, MD, Akai India
“The budget is extension of last year’s budget, but since the expectations from the current budget were very high therefore the mood and reactions around it is mixed. But altogether it is a normal budget with added impetus to the rural markets thus good news for the consumer sector. What remains to be seen is the impact of all these measures on inflation and fiscal consolidation.”