This budget may help every Indian to own a car? Here’s how
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For an industry that has already faced the brunt of demonetization and now facing ban on sale of 2000+ cc powered cars, it’s not easy to pull up its socks and perform out of the blue overnight. Will the Budget of 2017 will be able to address the major bumps on the growth path?
“The shadow of demonetisation has affected car sales, much more so in the premium and luxury segments than the mass market ones. The upcoming budget can bring in relief for the automotive sector with further rationalisation of income taxes which would increase the disposable income in the hands of tax payers, especially the middle class. Also continued investment into road and city infrastructure is much needed, which will not only help car owners but is also a massive employment generator. Clarity on GST implementation and overall stable policy outlook will bring in the much needed optimism and positivity into the economy in general. People will be more prone to spending on larger items like cars when they have faith in long-term sustainable growth rather than on-the-spot announcements like the demonetisation one,” said
Another issue that this year’s budget needs to address is car hike. Already Maruti Suzuki and
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Shubh Bansal, Co-founder of
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