To promote domestic manufacturing and attract foreign investments in line with the government’s ‘Make in India’ programme, the Budget has proposed to reduce Customs and excise duties on a number of inputs and extend residency to foreign investors.Sectors that will benefit from the changed rates include IT hardware, capital goods, defence production, textiles, mineral fuels and oils, chemicals and petrochemicals, paper, paperboard and newsprint and maintenance repair and overhauling of aircrafts and ship repair. “Customs and excise duty structure plays an important role in incentivising domestic value addition towards the ‘Make in India’ campaign.