Amid Union Finance Minister Nirmala Sitharaman holding pre-Budget consultations with various industry bodies, the automobile industry is seeking a growth-oriented Budget, sops for electric vehicle (EV) ecosystem and rationalisation of tax structure, among other demands.
Vinod Aggarwal, Volvo Eicher Commercial Vehicles (VECV) CEO and SIAM President, said, “The government should continue the growth-oriented projects for which it had earmarked Rs 750,000 crore last year. Now since the government’s revenues are also going up, its affordability will also be better. Additionally, the government should take some steps to boost consumption in the rural economy.”
In the last Budget, Sitharaman had raised the outlay for capital expenditure by a sharp 35.4 percent
Source: moneycontrol
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