“Firstly, we would like to applaud the Government for rolling out a budget that is progressive, remedy-inclined and development focused. The much-anticipated scrappage policy will give a boost to the automotive sector by generating demand for newer vehicles. This will curb environmental stress caused due to pollution in the long run and will also catapult the adoption of e-vehicles in the next 5 years. Increased focus on road infrastructure, research and development, and PLI among others will open floodgates for innovation leading to the increased capacity of both passenger and commercial vehicles. Also, the vision of ‘Atma Nirbhar’ Bharat coupled with increased impetus on FDI will boost domestic manufacturing of automotive components in India. Allocation of funds on building rural and agricultural infrastructure will also trigger demand for automobiles in smaller and lesser connected markets. Furthermore, simplification of GST and the incentivization of digital payments will ignite the sector through means of customer confidence, convenience, and fair practices. Directionally, it’s a great budget as it has set the perspective for the coming years.”- Mr. Banwari Lal Sharma, CEO, CarWale & BikeWale