Budget 2020: Need fiscal measures to boost production

Budget 2020: Need fiscal measures to boost manufacturing and production

By Mandeep Singh

The country has been witnessing a dip in GDP and therefore reflecting the need to introduce fiscal measures which will further boost manufacturing and production. With an intent to benefit the end-users, the measures will further profit the local manufacturing industry and augment sales, helping the country take another step towards a more stabilized economy.

Despite the economic slump and challenges prevailing in various sectors with regards to decreasing the cost of production and making domestic steel prices more competitive, we should focus more on creating an investor-friendly climate, benefitting the country in the long run. With major sectors like infrastructure, aviation, automobile and Railways etc. being heavily dependent on this apart from various consumer demands, it will be great if the levies, customs and taxes are relaxed and can further provide relief to boost production and demand. With global conditions also favouring the growth trajectory, these measures will add momentum and to the current situation.

(Author is CEO and Executive Director, JSL Lifestyle)