What is your take on the Budget?
Atul Lall: For the electronics industry, the Budget is positive. There were certain specific asks from the industry. One was on rationalisation of the duty structure for IFPD, and that has been done. What we asked for, thankfully, was addressed completely in the same format.
I think that is going to give a significant fillip to IFPD manufacturing. Then, we had asked for rationalisation or removal of certain duties on components for inputs for mobiles from 2.5% to 0%, and that has been done. They have also reduced the duty on inputs for open cells and that is positive for companies like Dixon because we are going to be setting up a display module plant. So, these are the positives.
On the regulatory front, there was always a sore point on the end-use certificates for IGCR components. That has been extended from six months to a year, and that is a positive. Monthly returns have been extended to quarterly returns. So, what the finance minister mentioned about a soft regulatory touch, one can see at least a positive movement in that direction.
From our perspective, overall it has been a positive budget. The demand had been subdued. I would very candidly admit it. So, hopefully, with the income tax exemption coming in, it should improve things.
