Sources have stated that the automotive industry wants a very clear policy regarding scrapping of old vehicles. This will not only help the environment, but also in government revenue. It will also lead to more scraps, which will eventually fulfill the industry's scrap requirement. It will also create additional employment.
The government should introduce balanced economic measures at the Budget 2017 as such a balancing act will eventually enhance ease of doing business within the country, boost consumer demand and catalyze economic growth. It is furthermore crucial auto sector as it affects the larger operating ecosystem linked with infrastructural developments, manufacturing policies and frameworks, tax regime etc.
The industry wants the government to specifically focus on job creation which is the biggest pain point for an average individual. For job creation, focus on manufacturing, specifically auto sector, is significant. So, the Budget 2017 should give some sort of impetus to manufacturing either by way of lower taxation or more moderate taxation or by way of promoting investments.
