Budget covers wide spectrum of areas: Ashok Leyland

By Vipin Sondhi

The budget overall covers a wide spectrum of areas such as health, skill, infrastructure, agriculture – as a boost to the economy. The allocation of Rs 2.83 lakh crore for agriculture, irrigation and rural development will assist the rural economy and will be good for the CV industry in the long run.

Further push to infrastructure of Rs 100 lakh crore over the next 5 years, including increased allocation of funds for roads and highways and the proposal to develop five new smart cities in collaboration with states in PPP mode, will bring positive sentiments for the commercial vehicle sector by increasing demand.

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Overall economic activity and job creation will increase demand for goods and consumption and increase freight movement on trucks.

The provision of invoice financing by NBFCs will improve working capital financing for MSMEs and revive the current business cycle.

(The author is the MD & CEO, Ashok Leyland)