The domestic electrical and lighting industries have responded in a myriad ways to the Union Budget 2017-18 tabled by Finance Minister Arun Jaitley in the Parliament, on February 1, 2017. While the players foresee several positive triggers emanating from the Budget, their response is equivocal to the proposal of duty cuts on LED input materials.
The Union Budget 2016-17 came with a reassuring tone, with the government opting for fiscal discipline and sticking to its fiscal deficit target. The net government borrowing target for the next fiscal was also significantly below expectations, lending a note of optimism. Another notable feature of this year’s Budget was the significant increase in outlay