Sector Watch: From tech to auto, how the Budget affects key sectors

Technology 

• Broadband connectivity to all government secondary schools and primary health centres
• Bharatiya Bhasha Pustak Scheme for digital books
• Centre for Excellence in AI to be set up with an outlay of Rs 500 crore
• Deep-tech fund of funds to catalyse next generation start ups
• PM research fellowship scheme for technological research in IITs, IISc
• Bharat Trade Net for international trade to be setup
• National digital repository of Indian knowledge systems to be set up
• Updation of regulations for ease of doing business and to keep up with technological innovations

  Auto

 

• Support for clean tech manufacturing for EV batteries
• Duty exemption extended to additional capital goods for EV battery manufacturing
• Duty reforms introduced to boost manufacturing & local value addition
• Enhanced allocation under existing PLI schemes for auto & auto components, PM e-drive scheme
• Extension of time limit for usage of imported inputs to avail concessional duty rate benefit

 

Energy

 

 

• Budget outlay of Rs 81,174 crore for energy sector
• Development of minimum 100 Gw nuclear energy by 2047
• Amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be taken up for active partnership with private sector
• Allocation of Rs 20,000 crore for establishment of Nuclear energy mission for R&D of Small Modular Reactors
• Incentivisation of electricity distribution reforms and augmentation of intra-state transmission capacity by states

 

Pharmaceuticals & Health care

 

• Budget outlay of Rs 98,311 crore for health sector
• Day Care Cancer Centres to be set up in all district hospitals
• Duty benefits extended to lifesaving drugs
• Medical tourism and health in India to be promoted
• 10,000 additional seats to be added in medical colleges and hospitals, towards goal of adding 75,000 seats in the next five years
• Enhanced allocation under existing PLI for specified drugs, medical devices
• Exemption from BCD extended to additional 36 lifesaving drugs
• Concessional Customs duty benefit extended to more 6 lifesaving drugs

 

Manufacturing

 

• Policy measures to boost domestic manufacturing and exports under various sectors such as electronics, toys, footwear, and leatherGovernment to set up National Manufacturing Mission covering small, medium and large industries for furthering Make in India
• Enhanced allocation under existing PLI from Rs 19,800 crore to Rs 33,000 crore
• Extension of time limit for usage of imported inputs to avail concessional duty rate benefit
• Presumptive taxation introduced for non-residents providing services in electronics manufacturing facility
• Voluntary payment of duties/ changes of BOE after clearance of goods

 

Disclaimer: The data have been provided by EY. Neither EY nor Business Standard is liable for any action taken on the basis of this data