Arun Malhotra, Managing Director, Nissan Motor India Private Limited says the company was looking forward to a stronger emphasis on the automobile industry from Union budget 2015. However there hasn’t been much development on that front after excise duty concessions were withdrawn at the end of 2014.
Expected incentives for electric vehicles were more than what Finance Minister Arun Jaitley, notwithstanding, Nissan India is happy that there is progressive step in this direction. 0.14 pct excise duty hike on small cars and 2 wheelers does not have much of an impact. Indian auto industry would have benefited had last year’s excise duty benefits been extended. Union Budget 2015 has the potential to raise consumer sentiment which in turn will boost industry growth. Concessions on offer for identified components for electric vehicles are being continue for another year. Nissan India welcomes the move.
SIAM is hopeful about approval to Scheme on Faster Adoption of Electric and Electric Mobility (FAME). Rs 75 crore allocation while modest, kickstarts things, and industry hopes that additional resources will be allocated to promoting green tech in the months to come.
Capt. Shankar Srinivas, Official Spokesperson, Isuzu Motors India says Union Budget 2015 enhances positive sentiments of businesses in India. Despite limited policy announcements specific to Indian automobile industry, multuiple proposals announced do indirectly benefit the sector. Renewed focus on infra development, and implementation of GST by April 2016 fosters long term automobile industry growth.
Investment in rural infrastructure development, increased spending on farm credits for enhanced agricultural productivity, and proposal to set-up corpus fund for emerging entrepreneurs and SMEs helps hub-and-spoke transportation ( small commercial vehicles) in the automobile industry. with most enterprises likely to focus on end-consumer products.