Anshuman Singhania, Chairman, Automotive Tyre Manufacturers Association (ATMA) said that the increased outlays in the road sector and infrastructure development augurs well for the tyre Industry.
Expansion of National Highways by 25,000 km, is a big positive. At the same time, mobilisation of ₹20,000 crore through innovative ways of financing to complement public resources further enhances the seriousness of the intent of the Government to ensure that infra projects are completed despite challenges. Provision for PM GatiShakti cargo terminals for multimodal logistics facilities will bring in synergies and improve efficiency in the goods’ transportation, he said.
The Finance Minister has endeavoured to ensure that the economic recovery process is sustained and accelerated. Allocation of ₹10.68 lakh crore for capital expenditure (including grants) in FY23 is a quantum jump of almost 3 times the pre-pandemic level that will boost job creation and ensure long term growth of the economy. ₹1 lakh crore financial assistance to states to catalyse investments will enable broad based growth and streamline employment generation.
Extension of concessional 15 per cent income tax for new manufacturing companies will help the growth of manufacturing sector especially in view of the fact that plans for setting up new units had to be delayed or shelved in view of COVID.
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