The pro investment, infra and development pillars being put in place would strengthen the social fabric, improve governance and tax rationalization. With corporate tax being an issue raised, budget positivity beckons individuals and corps.
Shekhar Vishwanathan, Vice Chairman and Whole – time Director, Toyota Kirloskar Motor says the overall progressive budget would help place the nation back on the business radar globally. Focus on job creation, skill development, insurance are all pro growth announcements. Reduction on custom duties on raw materials and manufacturing cost will help boost the Indian automobile industry. Government allocation on developing alternate fuel cars is a welcome announcement.
N Raja, Director and Senior Vice President (Sales and Marketing), Toyota Kirloskar Motor says the auto manufacturer was hoping for excise duty reduction that would have helped put the industry back on growth trajectory. Finance Minister Arun Jaitley announced an allocation to develop electric cars. Toyota India would need to study this in detail to see its implication on developing alternative fuels and promoting hybrid as a technology in India.
Toyota Kirloskar Motor registered 17 pct growth in February 2015 selling 11,802 units (PY 10,100). Toyota Kirloskar Motor registers growth with total sales of 13,280 units (including exports) in Feb 2015 over 11,286 units sold in Feb 2014, equating to 17.66 pct growth. The company exported 1,478 units of Etios series over 1,184 units in February 2014, equating to 24.84 pct growth. Toyota Kirloskar Motor reported 16 pct growth in January 2015. N Raja says growth wave continues this month too.