Good Afternoon,
I am forwarding the Budget Wish List of Mr. Himanshu Baid, MD, Poly Medicure Ltd. for the 'Budget Line' column with his photograph.
Hope this can be incorporated in your esteemed publication.
ISSUES FOR CONSIDERATION IN FORTHCOMING BUDGET
1. Tax Holiday U/s 10A and 10B should be further extended for next three years for EOU units due to current Economic scenario where exports have been showing negative growth.
2. Concessional Excise Duty on Medical Devices should be continued. This will help local industry to survive competition from unregulated exports.
3. DEPB / Draw Back Rates should be more rationalized. Currently due to disparity there is a lot of confusion within the industries what should be adopted.
4. Refund procedure of Service Tax and CST should simplified and time bound.
5. Special Status should be given to the Healthcare Equipment/ devices and Services sector. India's is lacking in Healthcare Infrastructure and there is not enough manufacturing of medical products in the country. Still 80% of medical equipments and devices are imported into the country.
6. Export obligation period has been extended by one year recently without payment of any Penalty. Likewise, the import period under the Licences should also be extended for one year.
7. Interest rates on Loans for export sector should be rationalized with ASEAN countries so that Indian exporters should also have the same competitive advantage.
8. FDI should be encouraged in Infrastructure in a big way. India lacks today good infrastructure like China, malaysia, Thailand etc. FDI will bring in much needed capital for the Industry.
Himanshu Baid
Managing director
Poly Medicure Ltd
1. Tax Holiday U/s 10A and 10B should be further extended for next three years for EOU units due to current Economic scenario where exports have been showing negative growth.
2. Concessional Excise Duty on Medical Devices should be continued. This will help local industry to survive competition from unregulated exports.
3. DEPB / Draw Back Rates should be more rationalized. Currently due to disparity there is a lot of confusion within the industries what should be adopted.
4. Refund procedure of Service Tax and CST should simplified and time bound.
5. Special Status should be given to the Healthcare Equipment/ devices and Services sector. India's is lacking in Healthcare Infrastructure and there is not enough manufacturing of medical products in the country. Still 80% of medical equipments and devices are imported into the country.
6. Export obligation period has been extended by one year recently without payment of any Penalty. Likewise, the import period under the Licences should also be extended for one year.
7. Interest rates on Loans for export sector should be rationalized with ASEAN countries so that Indian exporters should also have the same competitive advantage.
8. FDI should be encouraged in Infrastructure in a big way. India lacks today good infrastructure like China, malaysia, Thailand etc. FDI will bring in much needed capital for the Industry.
Himanshu Baid
Managing director
Poly Medicure Ltd
Thank you
Regards
Moumita
Image Manager
Mindpie
A- 28, II Floor, Hauz Khas
New Delhi 16
E mail - moumita.mindpie@gmail.com
Tel : 91 11 41656296
Cell : 9811700464
Regards
Moumita
Image Manager
Mindpie
A- 28, II Floor, Hauz Khas
New Delhi 16
E mail - moumita.mindpie@gmail.com
Tel : 91 11 41656296
Cell : 9811700464
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