1. The Make in India initiative by the Government has been in the highlight for a long time.
2. The budget 2016 clearly depicts that the government is in full support of start ups and Make In India initiatives. The Finance Minister has proposed changes in the customs & excise duty rates to boost Make In India, however it is yet to be seen how it would affect the smartphone industry.
3. In my opinion this will surely act as an impetus for the sector and will go on to make the industry more competitive. Government's initiative towards the R&D sector to Accelerate Depreciation Limit to 150 per cent from FY 2018 is also a welcome boost for the manufacturing sector.
4. Overall I feel it is a futuristic budget with the intention of showing the light at the end of the tunnel for boosting entrepreneurship in India.