Monday, July 13, 2009

Post budget comments from Mr. Moon B Shin, Managing Director , L G Electronics

 

 

Budget 2009-2010

 

Moon B Shin

Managing Director, LG Electronics India

 

 

The Union Budget 2009-10 is a very progressive budget in terms of focus on public- private sector partnership & infrastructure development.

 

The government has stood by its plans in the positive development of the overall economy with a thrust on the rural development.  

 

E     The Announcement of Goods and Service Tax (GST) with effect from 01.04.2010 will bring about a phase change on the tax equitably between manufacturing and services and will accelerate Economic Growth and Competitiveness.

 

E     The decrease in custom duty on LCD Panels from 10% to 5% will enhance market for LCD TVs.

 

E     On direct tax side, key announcement is the abolishment of Fringe benefit Tax. It will lead to decrease in operational cost which will further impact pricing of the products positively.

 

E     Allowability of expenditure on In House R&D @ 150% to all manufacturing entities will encourage the technology development in India and will reduce the import of know-how.

 

E     The extension of tax holiday to export oriented units will boost exports and economic growth.

 

Overall, I foresee an improvement in the macro-economic condition of the country as this union budget proposes to boost agriculture, rural industry, education & infrastructure

 

 

Thanks and regards,

Vineet Sharma
Hanmer MS&L|Member of PUBLICIS GROUPE)
E-228, Ground floor, East of Kailash New Delhi – 110065
M: +91 9999870197 B: + 91-11-46517700
F: +91-11-46517799
E-mail: vineet@hanmermsl.com
WebSite: www.hanmergroup.com

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