Mr K Madhavan, With regard to budget reactions, Mr.K.Madhavan, MD, Peps Industries- India’s largest spring mattress company, is quite satisfied with the economic boost that the manufacturing industry will see in the future. He has shared his views as below.
“The only highlight in the budget is the reduction of income tax for the Micro and Medium manufacturing industry. This will increase the capability of companies to work successfully- a good sign of encouragement and it is welcomed. The previous budget had offered customs excise sops, so there wasn’t much of an expectation there. When GST is implemented, there would be more clarity on this, and we are eagerly awaiting the same.”