Auto Budget 2015: Roy Kurian from Yamaha Motor India Sales comments
"Amidst the sky-rocketing expectations from across sectors from the first full-term Union Budget of the Modi government, the automobile industry has little reason to smile. However, keeping up the positive sentiments, we see some indirect positives including reiteration of GST implementation timeline of April 2016, significant increase in allocation of funds towards road-building and reduction in corporate tax rate from 30% to 25% over the next 4 years. The overall economic recovery and growth with positive parameters, GDP, rupee growing stronger etc., are a source of excitement for any business operating in India. Honb'le Finance Minister has also indicated on proposing plans for further ease of doing business, which is an added boost for the overall business environment. Further, the government's sincere focus on rural development and allocation of a huge sum of Rs. 34, 699 crores for rural growth is a good move as companies plan to target the untapped potential of the rural market. Next, the intentions of making India a manufacturing hub through 'Make In India' campaign will also give manufacturers under the auto sector an added advantage. Also, the initiatives on skill development will provide for skilled labour and expertise in our respective sectors."
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