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Union Budget 2018: Extension of 25% corporate tax benefit to organizations with turnover up to 250cr is a welcome move

Team OD  | Updated: February 02, 2018, 08:24 PM IST

The Union Budget just presented by the Arun Jaitley, the Finance Minister didn't seem to touch the automotive sector directly at all. But we you shall see soon, it did. The auto sector happens to be too large to be unaffected by changes elsewhere.

 Suresh KV, country head, ZF India  

The much awaited union budget presented by Finance Minister, Mr. Arun Jaitley shows immense promise for the country.

The huge push given to infrastructure in the Union budget by the government is a good move. Construction of 35000 km of highways under the Bharatmala project with highway construction to exceed 9000 km by end FY18 and the government has also allocated Rs 2.04 lakh crore for the Smart City Mission with 99 cities selected for development in FY19. These policy moves are set to increase employment opportunities and create demand for commercial vehicles & construction equipment.

Additionally, the extension of 25% corporate tax benefit to organizations with turnover up to 250Cr is also a welcome move.

All in all, we at ZF are looking forward to this financial year as this budget gives us the motivation to continue on our path of futuristic and sustainable growth.

Tags: ZF  |  ZF automotive  |  ZF automotives  |  Union Budget  |  Arun Jaitley

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