Union Budget 2021 Expectations from Industry Leaders

Mr. Mahendra Patel, Managing Director of Lincoln Pharmaceuticals Ltd

“Reforms in the taxation structure including GST, restoring export incentives, simple and consistent policies, and compliances are some of the key issues to be addressed in the budget.

The tax rate of 25% is extended to companies with an annual turnover of up to Rs. 400 crore. The time has come that the limit is raised to Rs. 1000 crore so more small units can avail the benefit.”

Mr. Kamlesh Patel, Chairman and Managing Director of Asian Granito India Ltd

“Inclusion of natural gas in the GST regime, Incentives for export and bringing tiles and sanitaryware in desired 12% GST slab could be the key growth triggers that the tiles industry expects from the budget.

Natural Gas (fuel cost) is one of the major cost components for the tiles industry and keeping it out of the GST regime is putting the tiles industry at disadvantage. It is high time that it should be brought under GST.

The tiles and sanitaryware industry is an integral part of the infrastructure and resonates with key government initiatives including Swachh Bharat Abhiyan,

Make in India and Housing for All and bringing it in the 12% GST slab from 18% currently will provide a much-needed boost and also help in building affordable houses.

Post-Covid, the World is looking at India with great potential to fill the demand gap. It is imperative that the incentive on the export of tiles should be reviewed and increased to boost exports.”

Mr. Ajay Mokariya, Managing Director of Shree Maruti Courier Service Pvt Ltd

“The logistics sector is the lifeline in moving the wheels of the economy and being one of the largest employers, the government should offer incentives to the organized players for employing un/semi-skilled workforce and investing on their skill development.

The NDA government should speed up the dedicated freight corridors project and make Indian Railway a preferred mode of transportation.

The central government is working on National Logistics Policy and the same should be implemented at the earliest to promote seamless transportation of the goods across India.

The exponential increase in the excise duty on fuel has augmented the cost without an immediate increase in freight rates.

Also, with the revision in the validity of the e-way bill, the same has been amended to 1 day for every 200 km of travel, as against 100 km earlier.

This is a big setback for parcel and short-haul operations and the government must look into this matter to address the concerns of the sector.

The logistics sector should be given an Industry status. It should be clubbed with the Ministry of Road and Transport to address multiple issues faced by the sector.”

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