While maintaining fiscal discipline, this year’s Budget announced by Finance Minister Arun Jaitley demonstrably seeks to stimulate economic growth and job creation. Micro-, small-, and medium-sized enterprises will enjoy corporate tax reliefs. Indians in the lower- and middle-income groups will receive income tax reliefs, which will increase disposable incomes and encourage consumer spending. The agriculture, housing, rural development, and infrastructure sectors, in particular, will benefit from the increased outlays set aside for them in this Budget. In particular, with the record Rs 3.96 lakh crore allocated to infrastructure, we can look forward to greater activity in the construction of roads, railways, and ports. We can expect high demand for construction equipment and, as a company, Volvo CE is looking forward to play a role in India’s infrastructural development. Overall, this Budget is a blueprint for sustainable long-term growth in our country, and execution of these strategies will be key now for the rest of the year.
Dimitrov Krishnan, Vice President, Sales & Marketing, and Head, Volvo CE India