Budget 2018: Uma Reddy Talks Expectations In Manufacturing Sector

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Could the Budget 2018 be a total game-changer for the manufacturing industry? When all eyes are on the Budget 2018, government seems to have its own value-added schemes for women entrepreneurs.

Or, does it?

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Ahead of the Union Budget 2018 on February 1, Uma Reddy of Hi-Tech transformers, shares with us what women from manufacturing expects from Budget 2018. SheThePeople.TV catches up with her

  1. Ease of doing business should go many notches higher. Yes, we have improved, but it is not good enough. If we want women to take up entrepreneurship then setting up a business should ease.
  2. Infrastructure support with co working space / Incubators / Common Facility centres – For manufacturing, there is a large need for Common Facility centres – for design, product development, 3D printing, testing, packaging, IP, certifications. There should be many of these. In fact in every area
  3. On GST – Reduce number of slabs and improve IT infrastructure.  Huge issues in uploading GST – IT infrastructure should be strengthened across the States and Centre.
  4. Presently there is no threshold exemption from payment of tax for small suppliers of services and goods. This has resulted in a situation where the customers avoid transactions with such suppliers due to liability under reverse charge under section 9(4) of the CGST Act.
  5. Access to Finance is still a huge impediment, without collateral. The limit sanctioned is very low.  Special consideration for women entrepreneurs, a sector where women foray into entrepreneurship. 
  6. Associations and organisations that promote ‘Trade and industry’ especially women  entrepreneurship, should be exempt from the ambit of taxation under the provisions of the Income Tax Act, 1961 (“Act”).