Industrial Automation Magazine India

Focus of the budget on inducing a much-needed economic revival

Published on : Tuesday 02-02-2021

-Pankaj M Munjal, Chairman, and Managing Director, HMC, a Hero Motors Company

February 1, 2021 – As expected, the Finance Minister has ensured that the focus of the budget has been on inducing a much-needed economic revival in a contracting economy. The commitment to infuse significant spending into building infrastructure projects and strengthening roads, public transport and metro systems augurs well for the automobile sector as well as for the economy at large as it will generate much-needed activity and employment in the economy. Taking note of the menace of air pollution, the Finance Minister has also proposed an outlay of Rs 2,217 crore to help 42 urban centres address the environmental concern. This is a highly welcome move. However, we hope the measures initiated to utilizes these funds to tackle air pollution give due importance to promoting cycling as an environmentally friendly mode of transport. We would like to see the 42 urban centres demarcated for this support using it among other things to lay down dedicated and safe cycling tracks," said Mr Pankaj M Munjal, Chairman and Managing Director, HMC, a Hero Motors Company.

However, from the manufacturing perspective, we would have liked to see dedicated announcements to help India's bicycle sector improve its manufacturing capacity and export competitiveness under the Atm Nirbhar Bharat initiative. We would also like to see a greater rationalisation of GST structure and its compliance, he further added.