The big Budget push to ramp up domestic manufacturing and improve export competitiveness
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Synopsis
“Our customs duty policy should have the twin objectives of promoting domestic manufacturing and helping India get onto global value chain and export better,” Finance Minister Nirmala Sitharaman said in her budget speech. “The thrust now has to be on easy access to raw materials and exports of value-added products.”
Agencies
Building a tariff wall may be counter-productive in the long run, says NR Bhanumurthy, vice-chancellor, Bengaluru Dr BR Ambedkar School of Economics University.
The Economic Survey 2020-21 and the Union Budget 2021-22 are remarkably different from previous ones. While the survey provides the analytical backstop for the government’s intent to borrow, build and grow, the budget itself is directionally clear and unambiguous about broad strategy. To build and support local industry the AatmaNirbhar Bharat (ANB) programme it is recalibr
Economic Survey: Need to revamp CPSE boards for greater transparency
January 29, 2021
Joining the chorus for revamping the boards of the Central Public Sector Enterprises (CPSEs) and re-organise their structure for better functioning is also the Economic Survey, thus raising expectations on some announcement on this front in the Union Budget to be presented on Monday.
“While disinvestment and rationalisation of some of the CPSEs is being planned, there is also a need to strengthen the ones that would be retained in their respective sectors so as to fully meet with the expectations of the government. An important step in this direction would be to completely revamp the Boards of the CPSEs to reorganise their structure, enhance their operational autonomy coupled with strong corporate governance norms including listing on stock exchanges for greater transparency,” the Survey has pointed out in the Chapter dealing with Industry and Infrastructure.