PERHAPS, IT’S AFTER A LONG TIME THAT THE country waited for the Union Budget. This time has been different. Battered, bruised and hurt (in different ways, of course), the year 2020 is one that most would like to forget.
The government has been trying its best to pump in money into the econmy. But its best efforts didn’t create the effect it ought to have. To a large extent, most of the key announcements were in line with the central theme of ‘Aspirational India, Economic Development, A Caring Society’. Although the fiscal deficit has been pegged at 9.5 percent in the Budget, this is a necessity to cure ailing industries, particularly the MSMEs. The tax reform measures have been tweaked to enable metal recyclers to flourish, particularly when it comes to the import of steel and copper.
IS IT ENOUGH?
The Budget provides an opportunity to harness the capabilities required to implement transformative reforms and build upon the foundations integral for the manufacturing sector to contribute to 25% of the country's GDP by 2025. Economic growth in India over the years has been propelled by growth in the services sector. Today, the sector contributes the highest to India's GDP. In contrast, the manufacturing sector, despite its higher multiplier effect on employment and growth, has not been able to serve as a powerhouse for the country's growth engines.
هذه القصة مأخوذة من طبعة March 2021 من Manufacturing Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 2021 من Manufacturing Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
UltraTech Cement's ₹800 crore investment
UltraTech's board greenlights capacity expansion at the Parli facility by 1.2 million tonnes
Kia honoured for 'Brand Design Language' at 2024 Car Design Awards
Kia introduced its groundbreaking new design philosophy, 'Opposites United.'
The power of data-driven procurement
An insight into the future of data-driven procurements and how businesses are seeking to adopt data-driven approaches in their procurement practices.
Manufacturing's Digital Leap Forward
Post event report of the webinar on Digital Factory Transformation in Manufacturing: Strategies for Success
Elevating brand equity through rigorous system validation
Exploring how System Validation differs from other types of validation in its scope and depth
India's semiconductor ambitions: How to move up the value chain?
With a strong focus on becoming a global semiconductor hub, India aims to establish a robust presence across the chip value chain.
Dubai's manufacturing story
Dubai is set to become trading and smart manufacturing centre despite global challenges
Machining Evolution
Explore the impact of innovative tooling and machining strategies on efficiency and sustainability in auto parts manufacturing.
5G Smart manufacturing in the age of 5G
A review on the transformative potential of smart manufacturing and 5G, exploring its myriad applications and the paradigm shift it brings to the industry.
FORGING SUSTAINABLE SOLUTIONS in the metals industry
Runaya made waves by unveiling its advanced Calcium Aluminate Plant in Jharsuguda, underscoring its commitment to environmental leadership and technological progress in the industry. In conversation with Annanya Agarwal, CEO & Co-Founder, Runaya.