New Delhi, Feb 1 (PTI) The Union Budget 2022-23 is growth-oriented, focused on building long term strength using investment as the lever while maintaining policy stability and inclusivity, auto industry body SIAM President Kenichi Ayukawa said on Tuesday.
While lauding various proposals announced by Finance Minister Nirmala Sitharaman, he said, “We welcome the message on ease of doing business and look forward to this being observed in spirit by all departments”.
In a statement, Ayukawa highlighted steps such as the 35 per cent increased capex outlay, major infrastructure projects like 25,000 km road construction, 100 cargo terminals, project Gati Shakti, 5G network, optic fibre cable laying and the recent PLI schemes as major positives.
“Impetus to charging infrastructure and energy storage systems and government support in R&D for clean energy, green mobility and semiconductors will help the auto sector,” said the head of the Society of Indian Automobile Manufacturers (SIAM).
He further said, “Leveraging biomass and support to ethanol blending for both environment and economy gains could unlock the power of India’s rural economy”.
Steel price cooling-off measures will also help the entire manufacturing sector, Ayukawa added. PTI MSS RKL BAL BAL
