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Excellent budget, but cess on cars not justified

Emphasis on rural income generation, LPG for BPL households excellent moves

R.C. Bhargava        Last Updated: February 29, 2016  | 00:00 IST
R.C. Bhargava, Chairman, Maruti Suzuki
R.C. Bhargava, Chairman, Maruti Suzuki

  • Excellent Budget, fiscal deficit at 3.5 per cent welcome. Will help attract foreign investments, keep inflation down, help lower interest rates.
  • Emphasis on rural income generation, LPG for BPL households excellent moves. Implementation capacity of government needs improvement for desired results.
  • Acceleration of infrastructure creation necessary to trigger growth and so welcome.
  • More aggressive disinvestment needed to release funds for infrastructure, social services. Will also enable competition and greater efficiency.
  • Permanent measures to prevent PSU Banks present distress needed.
  • Cess on cars unjustified. Industry creates large employment from sales, but struggling due to low demand. Cars contribute only 2.5 per cent of PM2.5 load in Delhi. Have to incur heavy costs to implement Euro 6 by 2020.

HIGHLIGHTS:Union Budget 2016


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