Budget reaction: Mr. Karl Slym, President & Managing Director of General Motors India

The budget is encouraging due to its focus on agriculture, irrigation, education, skill development, health care, infrastructure and other social schemes.  Since it addresses many of the concerns of the industry in general, it should help fuel demand and economic growth going forward.As far as the automotive industry is concerned, the budget is on the expected lines. The Government’s intention to reach consensus with state governments and introduce GST bill in the current session of the parliament, introduction of DTC by April 1, 2012, setting up of National Mission for Hybrid and Electric Vehicles are welcome decisions.

Some of the other announcements made by the finance minister for manufacturing and R&D activities should enhance the competitiveness of Indian industry.  The intention to further promote the development of infrastructure, particularly in rural areas, is a positive step.  The government’s commitment to continue with its reform process is likewise positive.  These proposals, if implemented effectively, should have a positive impact on industry and the economy as a whole.  The challenge now is the implementation of the proposals.  Our hope is that the market will respond favorably.

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