Budget 2021: Why manufacturing industry expects more incentives this time
Budget 2021 provides an opportunity to harness the capabilities required to implement transformative reforms and build upon the foundations integral for the manufacturing sector to contribute to 25% of the country s GDP by 2025
The manufacturing sector optimistically awaits the announcements in what is deemed to be a budget like never before
Economic growth in India over the years has been propelled by growth in the services sector. Today, the sector contributes the highest to India s GDP. In contrast, the manufacturing sector, despite its higher multiplier effect on employment and growth, has not been able to serve as a powerhouse for the country s growth engines.