Kamal Vachani greatly welcomes the budget 2020 presented by Hon’ble Finance Minister, Ms Nirmala Sitharaman. Mr Kamal Vachani is the Regional Director, Electronics and Computer Software Export Promotion Council (ESC), Group Director, Al Maya Group and President, Dubai Chapter of Global Organization of People of Indian Origin (GOPIO) said that announcement of New Project to Improve Electronic Production by Finance Minister is a great welcome steps taken by Finance Minister, informed Regional Director of ESC as this will increase the domestic production of Electronics and IT industry and boost the economy further and also Make in India will get a big boost. The government’s plan to encourage the manufacture of mobile phones, electronic equipment and semiconductor manufacturing as well as medical devices is a positive steps for the Indian companies which will be a boost to electronics exports, said Kamal Vachani.
Income Tax rate cut to 10% from 20% for individuals having income between Rs.5 lakh to 7.5 lakh is a welcome step taken by the Finance Minister which gives big relief to medium income people to save more money of their hard earnings, said President, Dubai Chapter of GOPIO.
Reducing of Corporate Tax, five years tax free for new start-ups, scrapping of DDT on companies are welcoming steps taken by FM.
Huge allocation for agricultural sector will greatly benefit the farmers and generate millions of new jobs in the rural sector, which will boost the agricultural economy in a big way. Agri exports will get a big boost with this incentive offered by Government of India during the budget, welcomed this steps by Kamal Vachani, Group Director, Al Maya Group.
© Press Release 2020