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Budget 2017-18: Impact On The Indian Automotive Industry

Budget 2017-18: Impact On The Indian Automotive Industry

Yearly when it is time for the Union Finances, there is a source of speculation and expectancy on what various industries can anticipate. But truth be told that's usually more of a wish list rather than realistic anticipations. When it comes to the automobile sector it has traditionally recently been a demand for the reduction of indirect fees that hurt the industry's growth prospects.

Budget 2017-18 has laid out a very clear set of themes. The two large initiatives are aimed at putting more money into the rural economy - especially after demonetization, and a renewed give attention to structure development. The latter views a marginally higher allowance of Rs 64, 1000 Cr for highway development specifically. Another item that has seen mention in previous budgets and views clarity is the specific outlay for the development of coastal roads -for better connectivity to slots and coastal villages. Beneath the Pradhan Mantri Gram Sadak Yojna roads work enlarged to 133 km highways per day in 2016-17 against 73 km every day during 2011-14. Following all the primary impact of demonetization on the auto industry was really seen on rural sales. These measures will help overcome a few of that. DANS Guleria, Senior VP- Revenue & Marketing, HMSI said, "With almost 50% of two-wheeler demand coming from rural and semi-urban India, Budget 2016 needs to have a positive impact for the industry going forward. inches The agricultural thrust is also very good news for creators of LCVs and minuscule trucks like Eicher, Struktur, and Mahindra for the similar reason, as this also comes on the back of a good monsoon, and reasonably good earnings in the agro-economy.

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