Kirti Rathod, Chairman, Delux Bearings

Autocar Pro News Desk By Autocar Pro News Desk calendar 21 Jan 2022 Views icon6243 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Kirti Rathod, Chairman, Delux Bearings

For the 2022-23 Budget, the government should restore the incentive of  150 percent depreciation for R&D, applicable in 2012-16, (tentatively) and which was then removed.

Many companies in the auto sector, and in manufacturing, industry want this benefit to be restored,  as it would enable them to up their R&D spend, and invest in technology for alternative fuel, EVs and imports. This is the right time as entrepreneurs know it takes 4-5 years to commercialise R&D investment into a marketable product and/or service.

It is commendable that the government has clearly stated its infrastructure spend at the national and state level, and the country is building about 40-48 km per day. In this year’s budget, I would like the finance minister to detail ways in which the spend applies to sectors like steel, cement, coal and automotive transport. This will help us to plan better our capacities and make them available to the government.

We need a reclassification of  GST and the eco-system for which we have asked for SOPs. There have been real delays, which affect investor confidence. The inverted structure in which RM is highly taxed but the final product is taxed at a lower rate requires addressal and, which is pending since a decade.  

Rationalising GST would help and give more clarity to the end buyer.

Tags: Budget 2022
RELATED ARTICLES
Sandeep Singh, MD, Tata Hitachi

auther Autocar Pro News Desk calendar29 Jan 2022

We need fast track clearances for infrastructure projects

Kamal Bali, President and MD, Volvo Group India

auther Autocar Pro News Desk calendar28 Jan 2022

Emphasize infrastructure-focused capex, clean and green logistics

Martin Schwenk, MD and CEO, Mercedes-Benz India

auther Autocar Pro News Desk calendar28 Jan 2022

The budget should aim for holistic growth