“Budget 2016 has generated positive sentiment among the masses of India. We have seen significant changes in the personal finance structure, a more robust medical program, greater thrust on agriculture and rural development, public investment sector and better governance practices. The government has also announced schemes for improving financial and education sectors. The government has allocated a whopping 97,000 crore towards road infrastructure with nearly 85% of held up projects coming back on track. This will definitely aid the automotive and transport sector and help people get better road infrastructure. Overall, the common man is greatly supported through multiple initiatives introduced in this budget.
However, the concerns of the auto industry such as lower import duty and implementation of GST have been left unaddressed. Additional taxation on luxury vehicles is likely to have an adverse impact on the premium automobile sector which contributes so heavily to the manufacturing sector and economy at large. We hope to see more discussions over the same in future.”
