Post-Budget Reaction by Mr. Sudhakar Gande, Vice-Chairman, AXISCADES Engineering Technologies and Chairman-FICCI Task Force on Aerospace and Defence
The Budget is practical, balanced and growth oriented. The decrease in taxation on royalty payments will propel Make in India program to be successful. The introduction of Bankruptcy laws are welcome and will build balance between entrepreneurship and lenders. Specifically for Defence sector, Budget allocation has been increased by 12% to Rs.2.46L Crores. With focus on FDI in defence, Make in India, ensuring there is inclusive focus on skill development, Technical entrepreneurship, and Institutional mechanism to finance the MSME sector is encouraging for the Defence sector.