Budget 2021 | 'We are hopeful on the much-awaited scrappage policy’

By Manish Bhatnagar

The auto sector has not only endured through 2020 but has emerged stronger and resilient than ever before.

Backed by adequate policy and investment intervention by the government, 2021 could prove to be a pivotal year.

For the upcoming Union Budget we expect the government to ensure capping the spike in raw material prices, enabling a conducive investment and taxation environment and a positive policy headwind for the auto auxiliary/ allied sectors to drive employment.

There should also be more clarity on the electric vehicle (EV) policy as well as the Production-Linked Incentive (PLI) scheme.

Furthermore, we are hopeful on the much-awaited scrappage policy. Along with giving boost to automobile sales, the policy will give enough importance to the fitness of a vehicle.

(The author is Managing Director, SKF India)