Update 32: (March 1, 2.21 PM) Salora International Ltd feels very disappointed with the increase in duty of mobile phones. This will make grey market stronger and also act as dampener to further investment in manufacturing. Also there has been no proposal to curb unabated import of flat panel TV as personal baggage. Update 31: (March 1, 2.01 PM) Tata Communications feels that though the Union Budget 2013-14 did not have much focus on the Telecom sector in particular but the overall budget will be good for investments. There has been a meaningful increase in planned expenditure to the tune of 30%. This year the FM has put out a 4.8% fiscal deficit compared to 5.2% of last year. However, they see that an increase in government support to the industrial corridors will help growth and see a lot of foreign investment over the course of this financial year. They also feel positive about the commitment to having an ATM in every PSU bank branch by March 31st 2014 as it will provide a huge thrust to ATM network reach, penetration and adoption in India. S Mobility feels that the handsets industry is facing difficult times with increased competition and price wars at large. With the proposed increase in tax for handsets above Rs.2,000, they do not see a decrease in demand but definitely, there will be pressure on the margins. This decision will surely impact the industry’s focus on making smartphones more affordable. At the same time, rural areas might get that much…
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