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)
Published 29 January 2020, 16:15 IST