Finance Minister Nirmala Sitharaman presented her third and Narendra Modi government’s ninth Budget on Februrary 1, 2021.
Here are the updates:
Budget announcements augur well for the automotive sector: ACMA president
Deepak Jain, president, Automotive Component Manufacturers Association of India: “Announcements with regards increased spend on road infrastructure, voluntary scrappage policy, Research & Development and PLI among others, augur well for the automotive sector. Further, continued focus on building rural and agricultural infrastructure and prioritizing agriculture credit growth will have long-term positive impact on rural demand for vehicles.
“It is also heartening that the budget outlay for the MSME sector has been doubled compared to last year. The auto component industry is dominated by MSME and this will provide them the necessary succour as the industry recovers.”
Budget has raised raised the vision of an Atmanirbhar Bharat: CREDAI MCHI president
Deepak…