Mumbai, March. 1
The Union Budget's focus on the power sector has brightened the prospects of domestic manufacturers of electrical and electronic products.
The Indian Electrical and Electronics Manufacturers' Association (IEEMA)has welcomed investment in the power sector and reduction in import duties.
"Expected addition of 39,000 MW in the next three years, of which 15,000 MW by the end of March 2007, will reduce the demand-supply mismatch," said
Mr A.K. Dhagat, President, IEEMA.The association has also welcomed the introduction of 4 per cent CVD on imports with full credit to domestic manufacturers, which as mentioned by the Finance Minister, Mr P. Chidambaram, will provide a level playing field for them.
Encouraging energy efficient products such as compact fluorescent lamps by reducing excise duty to 8 per cent from 16 per cent will increase use of these products, as they will be available at lower prices now.
Mr R.N. Mukhija, President (Operations) and whole-time Director of Larsen & Toubro Ltd,electrification of 10,600 villages in 2005-06 and 40,000 villages in 2006-07 is a heartening step of committed progress in rural infrastructure development.