Ravi Shankar Prasad to give priority to electronic manufacturing
Updated: May 27, 2014 06:45:10pm
New Delhi, May 27 (KNN) Giving a boost to the manufacturing of electronics will be a priority for the new government, Telecom , Information Technology and Electronics Minister Ravi Shankar Prasad said today.
“Manufacturing needs a big boost but electronics manufacturing would be our priority”, Prasad said after taking charge of the ministry.
He said the NDA Government would focus on growth and in principle is against any retrospective taxes.
"Retrospectivity should be avoided in the maximum," he said when asked whether he endorsed India's move to retrospectively tax companies.
Prasad also sought to send a strong signal to the investors that the government would go in for stable fiscal policies.
"Our larger view is that fiscal, policy and taxation regime must be evident because India needs investment...Those who invest in India may not have to face uncertainty. They must have the assurance of a stable fiscal policy and legal regime," he told reporters on assuming charge of the law ministry.
India’s electronics import bill is estimated to touch USD 320 billion (Rs.17.12 trillion) by 2020, possibly exceeding that of crude oil, while the domestic demand for electronics is estimated to touch USD 400 billion by 2020. (KNN Bureau)
“Manufacturing needs a big boost but electronics manufacturing would be our priority”, Prasad said after taking charge of the ministry.
He said the NDA Government would focus on growth and in principle is against any retrospective taxes.
"Retrospectivity should be avoided in the maximum," he said when asked whether he endorsed India's move to retrospectively tax companies.
Prasad also sought to send a strong signal to the investors that the government would go in for stable fiscal policies.
"Our larger view is that fiscal, policy and taxation regime must be evident because India needs investment...Those who invest in India may not have to face uncertainty. They must have the assurance of a stable fiscal policy and legal regime," he told reporters on assuming charge of the law ministry.
India’s electronics import bill is estimated to touch USD 320 billion (Rs.17.12 trillion) by 2020, possibly exceeding that of crude oil, while the domestic demand for electronics is estimated to touch USD 400 billion by 2020. (KNN Bureau)
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