10 Highlights of the newly announced “Capital Goods Policy” of Indian Government

10 Highlights of the newly announced “Capital Goods Policy” of Indian Government
Pic: thehindubusinessline.com

1) Capital Goods Policy is India’s first ever policy on Capital Goods. Industry has welcomed this policy.

2) Purpose of this policy is to make India a world manufacturing hub. It is an extension to Make in India project.

3) As per media reports if this policy is implemented effectively it could create millions of jobs for Indians in next 5-10 years.

4) Again as reported in Media, this policy will help increase Capital Goods production from 2.5 lac crore to roughly 8 lac crore in next 7-8 years.

5) Purpose of Capital Goods policy is to increase Capital goods share in Indian economy.

6) Increase in capital goods production will help in infrastructure development, export and import balance also.

7) This policy will help heavy engineering industry to take necessary approvals to produce capital goods at a quicker speed.

8) Capital Goods Policy will also give a boost to Indian GDP by increasing production and exports.

9) Political imbalance between Centre and State could be a hurdle for Government in implementing this policy at grass root level.

10) It is also fact that implementation of GST (Goods and Services Tax) is important for effectiveness of this policy.

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