- February 7, 2018
- Mrinmoy Bhattacharjee
Domestic lighting leaders have hailed the finance minister Arun Jaitley’s Budget 2018-19 for the government’s push for 100 smart cities, rural infrastructure, and ‘Housing for All by 2022’ programmes. However, they feel that the Budget has “failed” to bring tax rate relief for larger corporates.
“Opportune Time” for Lighting Sector
Rakesh Zutshi, president of Electric Lamp & Components Manufacturers’ Association of India, comments, “We believe the honourable finance minister has created truly an opportune time for solar lighting, LEDs and various other segments of the lighting sector to cash in on the expected emerging demand in the upcoming 99 Smart Cities announced in the Budget 2018.
The budget bodes well with the vision behind the creation of these smart cities implementing various projects like Smart Roads, Solar Rooftops, Intelligent Transport Systems and Smart Parks, among others. We are looking forward to a most promising future unfolding for the entire lighting sector.”
Thumbs up for Rs 2.04 Lakh Cr Smart Cities Allocation
Sumit Joshi, vice chairman and MD of Philips Lighting India Ltd, says, “The allocation of Rs 2.04 lakh crore for developing smart cities will go a long way in creating world class urban infrastructure. It gives a big boost to rural infrastructure by ensuring electricity access to all rural households under the Saubhagya scheme.”
Housing Fund Good, Not Corp Tax Rate
Rakesh Khanna, CEO of Orient Electric, observes, “While the Budget gave relief to MSMEs with turnover up to Rs 250 crore, it has failed to address the corporate tax rate issue for larger corporates. The Budget reiterated the focus on rural development, which we believe will provide an opportunity for the electrical industry to work with the government.
Also, the government’s proposed plan to create a dedicated affordable housing fund in line with its plan of providing housing for all by 2022 is good news for the allied segments. Another welcome move is the announcement of identification of 372-point plan on ease of doing business, which will attract investments and improve the overall business climate.”