As Finance Minister Arun Jaitley prepares to present the Budget on February 29, India Inc is looking forward to a systematic and structured pro-growth, pro-development direction.

The recently concluded ‘Make in India’ week in Mumbai sparked a renewed sense of pride in the country’s manufacturing sector. It showcased the potential of design, innovation and sustainability across its manufacturing sectors in the coming decade.

It has also made the direction and trajectory for growth and investment much clearer and should take corporate and government participation to the next level.

Ashok Leyland and the automotive industry in general have the following expectations from this year’s Budget:

• One legislation the entire industry is eagerly awaiting is the GST. This would be a game changer for the economy and provide strong impetus for growth. We hope the Budget charts out a clear implementation roadmap, which will enable companies to redesign internal systems/processes and adapt their supply chain logistics.

• Specific incentives from the Finance Minister to support the initiatives of automotive companies in research and development will greatly aid efforts to build safer, greener and more fuel-efficient vehicles. This will ensure that we not only ‘Make in India’ but also ‘Design in India’.

• We also hope that there is continued emphasis to drive investments, public and private, in infrastructure (especially roads and freight corridors). This will facilitate growth for the manufacturing and transportation sectors while also transforming national efficiency.

• We expect the Budget to provide funding for public transport development in the recently-announced list of smart cities, with a focus on bus fleet enhancement and modernisation.

• Another expectation is that the FM will take the first step towards lower corporate tax rates, as well as de-layering of taxes, as outlined in the Budget speech last year.

The writer is Managing Director, Ashok Leyland

Related Topics
comment COMMENT NOW