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Manufacturing
Union Budget 2014-15 proposed a slew of measures to make manufacturing a key driver for economic growth
• Revival of Special Economic Zones (SEZ) scheme to revitalise investorinterests and efficiently use un-utilised land. States to be engaged inadvancement of Export Promotion Mission
• Establishment of, “National Industrial Corridor,” headquartered in Pune tocoordinate the development of a corridor to connect smart cities with aninitial corpus of Rs. 100 crore
• Development of 20 new industrial clusters and seven industrial smartcities
• Establishment of biotech, textiles and agro-biotech clusters to promoterespective sectors
Manufacturing
Union Budget 2014-15 proposed a slew of measures to make manufacturing a key driver for economic growth
• Permit manufacturing units to engage in retail activities, including on e-commerce platforms, without seeking any additional approval
• Facilitate trade through, “Custom Single Window Project”
• Implementation of a sophisticated “3P India” model for quick redressal ofPPP contracts with a corpus of Rs. 500 crore
• Proposed introduction of Goods and Services Tax (GST), which willstreamline tax administration, and result in higher tax collection for centerand states
Manufacturing
Union Budget 2014-15 proposed a slew of measures to make manufacturing a key driver for economic growth
• Expand investment allowance of 15 per cent on plant and machinery,which was announced earlier for investments of more than Rs 100 crore,to investments of over Rs 25 crore. This will be available up to 2017
• Address problem of inverted duty structure in certain areas
• Reduction of Basic Customs Duty (BCD) on certain items including IT,electronics, wind operated generators, etc
• Proposed establishment a “Young Leaders programme” to promoteleadership among Indian youth with an allocation of Rs 100 crores
Manufacturing
Union Budget 2014-15 proposed a slew of measures to make manufacturing a key driver for economic growth
• Proposed introduction of a national multi-skill programme called “SkillIndia” to mitigate the skill gaps hampering manufacturing growth.Apprentices Act to be amended to enhance industrial training programmes
• Announced that a committee will examine the revival of MSMEs; reportwill be submitted in 3 months
