APN News

  • Friday, January, 2021| Today's Market | Current Time: 08:32:22
  • Budget Expectation Quote for the auto industry from Sandeep Aggarwal, Founder & CEO, Droom

    Published on January 22, 2021

    The aftermath of the COVID- 19 has not only accelerated the need of owning a vehicle but inclined towards online buying for an automobile to avoid physical contact. No country has ever created economic growth unless it has given transportation freedom to its people. With that, we hope Indian budget 2021 continue to invest heavily on road infrastructure and don’t criticize automobile for pollution because great road infrastructure will result into no pollution and no congestion on roads. 

    In India, only 5% of Indian households have a car and 25% of Indian households have 2-wheeler vs 60% of households with cars in developed economies. 

    The auto industry expects relief from the Union Budget 2021-22 in the following multiple areas also –

    • Demonetization, GST, and confusion around EV and BSVI have really tempered automobile demand last several years. The government should aim to announce things in this budget that can simplify the automobile industry including direct and indirect taxation, whether making it more complex.
    • I really hope that government makes enough rules so that inter-state transfer of vehicles has a very low entry barrier and digitisation of extremely important industry for the economy.

    All-in-all, time is now ripe for the government to take  initiatives to digitise the highly important industry which is Automobile.