'Demand side measures needed to pull out of slump'

Union Budget 2020: Demand side measures needed to pull out of slump

We are also hopeful of a lower GST rate for vehicles that will improve consumer sentiment and stimulate demand. (Credit: Reuters Photo)

By Sharad Malhotra

We expect Budget 2020 to walk a tightrope - there is need to push forward long-pending reforms and revive demand but also be fiscally prudent. With auto industry facing unprecedented slowdown, we are looking forward to demand-side measures that will pull the economy out of slump, provide much-needed relief to the sector and revive consumption. Auto industry is gearing up for implementation of BS-VI norms in 2020 and we are hopeful that demand will crawl back up from second half of the year. We are also hopeful of a lower GST rate for vehicles that will improve consumer sentiment and stimulate demand.

(Sharad Malhotra is President – Automotive Refinishes and Wood Coatings, Nippon Paint India)

DH Newsletter Privacy Policy Get top news in your inbox daily
GET IT
Comments (+)