Good Budget - Mr. P.K.Ranade, JMD, Indo Asian Fusegear Limited on Union Budget 2010-11
Commenting on the budget Mr. P.K.Ranade, JMD, Indo Asian Fusegear Limited (IAFL) said, "This has been a good budget and on the expected line Honorable Finance Minister has announced a gradual roll back of stimulus package".
Adding on, he said, "This budget has been good for electrical industry in general and consumers at large as Honorable Finance Minister has announced a cut in the excise duty of CFL from currently 8% to 4% and on LED Lamps to 4%. This will help in reducing the cost of these products and making it economically viable for the common man. Also Honorable Finance Minister has given a great impetus on R&D by announcing a weighted deduction on in-house R&D from 150% to 200%. For electrical equipment manufacturers like IAFL, where R&D is the backbone of business and accounts for a major part of expenses, this has been a great move. Also this budget has doubled the allocation in power sector to Rs. 5130 cr, and a large allocation for infrastructure and housing projects will impact positively on the sales of electrical equipments manufacturing companies. |
Union Budget