New Delhi, Mar 1 (UNI) The Electronics Hardware and Component Industry (ELCINA), which urged the government to remove CST (Central Sales Tax) completely on its products, expressed its disappointment as the matter was not addressed in Budget 2008-09.
''Advancing this step for electronics hardware would have given a fillip to investments in high value add manufacturing. Unfortunately that has not happened and waiting for another two years will only push us back further,'' ELCINA's President Rajoo Goel said in a statement.
He said the much needed sectoral push to electronics hardware, for which there is a dire need, is missing.
''Somehow, the focus and importance of Hardware Manufacturing has once again escaped the attention of the Finance Minister and we largely remain where we were,'' he added.
The Demand and imports of electronic products and components is soaring at over 20-25 per cent per annum, the fastest among all manufactured products.
The potential of this surge in demand can be harnessed only if investments and expansion of manufacturing capacity of electronic components, parts and assemblies is encouraged, where most of the value addition takes place, the statement added.
''ELCINA supports the largesse shown by the Finance Minister to uplift the poor of our country, but it also believes that a fraction of that amount can give a major push to electronics hardware and create wealth and millions of jobs for the same underprivileged segment of society,'' Mr Goel said.
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