Budget 2018: How Jaitley preparing this? Which articles will hike price and which articles will drop price? Let’s know
The business firms are expressing curiosity on the annual Budget 2018, which
will be producing in Lokh Sabha of India through Central Finance Minister Arun Jaitley
on 1st February, 2018. The Business
authorities interestingly waiting for which articles/ appliances will go under price
drop and which articles/ appliances will hike price in 2018 Annual Budget and how
much discounts, offers will get on Tax for them based on sector and categories.
The companies proposed less rate of tax on their products, which related to
consumer durables, home appliances. So, that
they can provide their products to the common man with less price, which will facilitate
middle class and below middle class people to shop fearlessly. Majorly, Godrej home appliances, Panasonic, Phillips,
Intex, etc companies wants to increase Customs Duty and subsequently, Home Appliances
& Consumer Electronic Industries wants to encourage products from Fuel Capacity
Production.
Mr. Kamal Nandi, Head of Godrej Home Appliances stated that, “Refrigerators,
Washing Machines, Air Conditioners, etc are not come under the elite articles in
this generation and in this context, there is a need to decrease the price and should
bring these products available to the common man with reliable price”.
On the other side, another company Panasonic stating that, “the Government should
hike the Tax of Imports to encourage local manufacturers”. The Panasonic company thinking that, the Import
Tax should be hiked on Home Appliances also as similar to electronic gadgets, Smart
Phones, TVs, etc, which implementing high Import Tax now on these items. So, that the local manufacturers can benefited
in the “Home Appliances Sectors”. Mr. Manish
Sharma, CEO of Panasonic stated that, “the BCD (Basic Customs Duty), which implementing
now on Electronic gadgets, Smart Phones, TVs, etc also extended this to Home Appliances
to encourage the local manufacturers”.
Intex Mobiles company CEO Rajeev Jain opined that, “the Indian mobile companies
may cause severe loss, due to GST on Mobiles and its accessories now applicable
as 28%, if this continued to this year also, the mobile companies will get huge
losses because of heavy competition with other country mobile gadgets now. There is a need to decrease the GST up to 12% on
Mobiles and its accessories in India to encourage Indian Mobile industries towards
progress”.
The requests from the popular companies and needs of the people will affect
the Budget 2018, let’s wait and see how the Budget 2018 satisfied the common man
and as well as corporate companies to step towards development.
Tags: budget, 2018, arun jaitley, jaitli, india, modi, narendra modi.
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