Budget Proposal
Ever since the announcement of National Capital Goods Policy,
2016, Government has taken a slew of measures to increase &
encourage local production of capital goods. Industry keenly
awaited Government to take further steps, in Budget 2022-23, to
protect/ enhance a potential market share for indigenous players,
who have done substantial investments in this area.
Budget 2022 aims at further bolstering these objectives by a
two-fold action plan (a) imposition of additional import tariffs;
and (b) more preferential treatment to indigenous players in
Government procurements. The proposals announced by Union Budget
2022-23 are certainly a step in the right direction.
