Saturday, October 4, 2025
Financial ReportsBudget 2020: “Measures taken by the government will have...

Budget 2020: “Measures taken by the government will have long term benefits on economic growth,” says JK Sharma of Yansefu India

-

Budget 2020: “Measures taken by the government will have long term benefits on economic growth,” says JK Sharma of Yansefu India

-

JK Sharma, CEO of Yansefu India comments: Although, the Union Budget 2020 has been neutral for the printing and packaging industry, the reduction of custom duty on imports of newsprint and light-weight coated paper from 10% to 5% is something to be appreciated.

A few measures taken by the government may have indirect impact on the industry. The Union Budget has given impetus for agriculture, entrepreneurship and MSMEs in both rural and urban sectors which will help to revive the India’s economic growth. The growth of these sectors would subsequently boost the consumption in the rural and urban areas, which will hopefully generate more requirements and opportunities in the printing and packaging industry.

Additionally, the increased custom duty on imports of electronics and other less technology-driven products not only give a push to the ‘Make In India’ initiative, but also provide drive for allied industries like printing etc. to help manufacturers to meet their packaging requirements as well as for marketing their products.

The positive takeaway from this budget would be the income-tax relief for the lower and medium income groups. The income tax reduction could be seen as an indirect measure to increase the purchasing power of the lower and middle-income groups. The cascade of the same into the FMCG sector is something to be expected. Since the packaging industry is directly proportional to the FMCG growth, it will see its impact through increasing demands.

Dividend Distribution Tax levied on dividends distributed by companies to the shareholders has been discontinued. Instead, the recipients of the dividend will have to pay tax at their applicable rate. Again, this would be beneficial for the Indian companies, including the printing and packaging sector as this will give confidence to existing and new foreign investors to invest in the Indian market, which certainly will give a boost to the India’s GDP growth.

Yansefu welcomes the FY union budget 2020 and firmly believes that the measures taken by the government will have long term benefits to strengthen the nation’s economic growth.

Manash Das
Manash Das
Manash Das is associate editor at The Packman. He has been contributing editorially to The Packman since 2016.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest news

Strong sales and innovation mark Rotocon’s debut at Labelexpo Europe 2025

Rotocon’s debut at Labelexpo Europe 2025 was marked by a dynamic presence, where live press and finishing demonstrations attracted...

Mondi helps Ozler Tarım cut food waste in long-haul shipment

Mondi, a global leader in sustainable packaging and paper, has partnered with Ozler Tarım, one of Turkiye’s leading fresh...

Berglandmilch pioneers SIG’s alu-free aseptic carton in Austria

Berglandmilch, Austria’s leading dairy company, is the first in Austria to choose SIG Terra Alu-free + Full barrier, the...

Siegwerk, Borouge, and TPN Food Packaging launch recyclable mono-material packaging solution

Siegwerk, one of the leading global providers of printing inks and coatings for packaging applications and labels; Borouge, a...
- Advertisement -spot_img

Sonipat’s Shree Jee Printers invests in new Komori

A complete house of printing, Sonipat (Haryana)-based Shree Jee Printers serves clients considerably in the publishing and packaging segments....

Morris Packaging and UFlex forge strategic partnership to deliver sustainable woven bag series

Morris Packaging and UFlex Packaging have announced a new partnership in the woven bag series that further strengthens their...

Must read

Aptar Food + Beverage new closure for the infant formula market

Aptar has announced its new closure for infant formula,...

Epson celebrates 50 years of its iconic brand

On 17 July 2025, Epson celebrated its 50th anniversary...

You might also likeRELATED
Recommended to you